The code also provides for further extension. Jet Airways
came under insolvency proceedings in June and the airline’s resolution professional Ashish Chhawchharia will make an application to the insolvency court seeking a 90-day extension in the resolution timeline. South America’s Synergy Group is the sole contender to revive the grounded airline.
It had been given time till November 15 to submit its bid. However, the group sought more time as it seeks clarity on airport slots in India and London.
The group has been in regular touch with the resolution professional and the airline management, giving hopes of a revival. The Mumbai Bench of the National Company Law Tribunal (NCLT) has sought an interaction with the Synergy Group by December 3 to understand its interest in restarting Jet.