Jet Airways stock falls 4% on reports of preliminary probe by Ministry of Corporate Affairs

New Delhi: Shares of Jet Airways on Tuesday fell nearly 4 percent in morning trade on bourses after reports surfaced that the Ministry of Corporate Affairs has opened a preliminary inquiry into the carrier. As per the media reports, the Mumbai Registrar of Companies (RoC) will inspect Jet’s books of accounts. [caption id=“attachment_4883531” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] In a regulatory filing, however, the company on Tuesday said it “has not received any communication from the Ministry of Corporate Affairs in this regard”. The shares of the company opened on a weak note at Rs 297.80, then fell to a low of Rs 289.95, down 3.73 percent over its previous closing price. Similar movement was seen on NSE as well, where the stock opened at Rs 297.40, then fell to a low of Rs 289.65, down 3.89 percent over its last close. Jet Airways is facing financial stress and on 9 August the company held off from announcing the unaudited financial results for the June quarter. Both BSE and NSE have sought an explanation from the company on this. Meanwhile, a meeting of the board of directors is scheduled to be held on 27 August to consider and approve the unaudited financial results for the first quarter ended 30 June.