Bidding process to be initiated by lenders for sale to new investor(s), the process expected to be completed in June quarter as per the resolution plan.
"June is too late. My expectation is 31st May...market is open for everyone whosoever wants to come in. There will be expression of interest which will be given by April 9 and binding bid by April 30," SBI Chairman Rajnish Kumar told CNBC TV18.
"It could be financial investor, it could be airline...including Naresh Goyal himself or Etihad. No body is barred from bidding or taking over the airline as per the rule," he said.
Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal will step down from the board of the ailing airline following reduction in their stake to 25 per cent as per the resolution plan formulated by SBI-led domestic lenders.
After weeks of speculations and uncertainties over the future course of Jet Airways, which has grounded over 80 planes due to financial woes, approved constitution of an Interim Management Committee to manage and monitor the daily operations and cash flow of the company.