Private equity and stressed asset funds continue to show interest in acquiring value assets undergoing insolvency proceedings despite delays and litigation

The new promoters of Jet Airways, the Murari Lal Jalan-Kalrock Capital consortium, said that Delhi, Mumbai and Bengaluru will remain the hubs for Jet 2.0 with sub-hubs in Tier 2 and Tier 3 cities

Jet Airways will need $1 billion initial working capital, followed by $3 billion over the course of 5-7 years before the airline can break even; it needs to be seen whether the bidders can bankroll these expenses

The move to revive and operate the airline comes after the carrier had to suspend operations due to acute fund crunch an year ago

Resolution professional Ashish Chhawchharia is in the process of filing an application to secure NCLT's approval for the resolution plan by Kalrock Capital-Murari Lal Jalan combine

Jet Airways insolvency: The airline stated that the committee of creditors has not yet concluded the e-voting process under Section 30 (4) of the Insolvency and Bankruptcy Code

Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets are the book running lead managers to the offer

Asian markets began the fresh trading week with modest gains after data released Sunday showed China's industrial enterprises grew for a fourth consecutive month. European stocks turned positive, tracking global rally

Jet Airways share was stuck in the upper circuit of 5% at Rs 26.60 against previous close of Rs 25.35 on BSE

India Stock Market Highlights Today: On hopes of the US Govt to announce a stimulated package, global markets begun the new trading week with modest gains.

A consortium of Flight Simulation Technique Centre, Big Charter and Imperial Capital Investments LLC is one of the two entities that submitted resolution plans for Jet Airways earlier this week

The bidders have been given two weeks' time to review the financial health of defunct Jet Airways and firm up their bids. They have the option to not submit a bid at the end of the due diligence process

The insolvency professional had sought permission of the tribunal for the sale of the premises after a resolution was passed at the 10th committee of creditors (CoC) meeting held on April 24 with approval of 74.45 per cent votes

This, however, will not apply to defaults committed before March 25, when a nationwide lockdown was imposed by the Centre to check the spread of coronavirus

Deadline for corporate insolvency resolution process of Jet Airways has also been extended by more than two months to August 21 to exclude duration of coronavirus lockdown that began on March 25

\"The revised timeline for completion of the CIRP of Jet is now August 21, 2020, subject to any further extension of the lockdown by the state government of Maharashtra or the Central Government, as the case may be,\" Jet Airways said in an exchange filing

Share Market LIVE: In terms of sector, gains in Financials, FMCG, media and private banks were capped by losses in PSU Bank, metal , IT and pharma scips

YES Bank news: IL&FS, Dewan Housing, Jet Airways, Cox & Kings, CG Power, Cafe Coffee Day, Altico - name a bane of Indian financial services sector and YES Bank was as a key lender

If the deal is finalised, it will only involve a sale of part of the company's business and not impact the shareholding pattern, Jet said in a statement dated Jan. 16. It did not detail the assets held in Netherlands

Share Market Update: During Thursday's trade, Sensex climbed to a fresh all-time high of 42,059 and Nifty too has hit a new lifetime high of 12,389 from 12,374.25 earlier.