State Bank of India (SBI) reported the SBI led consortium of lenders to Jet Airways "have decided to seek resolution under the Insolvency and Bankruptcy Code (IBC) as only a conditional bid was received" on a tender for the purchase of an up to 70% stake in the airline (The Hindu BusinessLine/Times of India/Live Mint/CNBC-TV18/Deccan Herald/The Hans India, 17/18-Jun-2019). The SBI noted the consortium has "been taking efforts to find a resolution for Jet Airways outside IBC but in view of the above, lenders have decided to seek a resolution within the IBC process".
Jet Airways lenders to commence insolvency proceedings
18 June, 2019