Jet Airways (India) Ltd. v. SBI & Anr.

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The Tax Publishers 2020 TaxPub(CL) 0058 (NCLAT-Del) : (2019) 156 SCL 0642 IN THE NCLAT, NEW DELHI BENCH S.J. MUKHOPADHAYA, CHAIRPERSON, JUSTICE A.I.S. CHEEMA, (JUDICIAL MEMBER) & KANTHI NARAHARI, (TECHNICAL MEMBER) Jet Airways (India) Ltd. v. SBI & Anr. Company Appeal (AT) (Insolvency) No. 707 of 2019 26 September, 2019 Appellant by: Sumant Batra, Priyanka Anand and Srishti Kapoor, Advocates Respondent by: Gauri Rasgotra, Karan Khanna and Ritu Anand, Advocates, Krishnendu Datta, Anindita Roy Chowdhury, Aditya Chatterjee and Mehak Khurana, Advocates ORDER Pursuant to our directions, the Administrator of 'Jet Airways (India) Limited' (Offshore Regional Hub) and the 'Resolution Professional' of 'Jet Airways (India) Limited' have filed their 'Terms & Conditions' of agreement termed as 'Cross Border Insolvency Protocol'. All the clauses have been accepted by each party except 'Clause No. 6.1.2' which relates to participation of the 'Dutch Trustee' (Administrator) in the meeting of the 'Committee of Creditors'. The agreed 'Terms & Conditions' of 'Cross Border Insolvency Protocol', as excluding clause 6.1.2 reads as follows :-- SUBSCRIBE FOR FULL CONTENT

The Tax Publishers 2020 TaxPub(CL) 0058 (NCLAT-Del) : (2019) 156 SCL 0642

IN THE NCLAT, NEW DELHI BENCH

S.J. MUKHOPADHAYA, CHAIRPERSON, JUSTICE A.I.S. CHEEMA, (JUDICIAL MEMBER) & KANTHI NARAHARI, (TECHNICAL MEMBER)

Jet Airways (India) Ltd. v. SBI & Anr.

Company Appeal (AT) (Insolvency) No. 707 of 2019

26 September, 2019

Appellant by: Sumant Batra, Priyanka Anand and Srishti Kapoor, Advocates

Respondent by: Gauri Rasgotra, Karan Khanna and Ritu Anand, Advocates, Krishnendu Datta, Anindita Roy Chowdhury, Aditya Chatterjee and Mehak Khurana, Advocates

ORDER

Pursuant to our directions, the Administrator of 'Jet Airways (India) Limited' (Offshore Regional Hub) and the 'Resolution Professional' of 'Jet Airways (India) Limited' have filed their 'Terms & Conditions' of agreement termed as 'Cross Border Insolvency Protocol'. All the clauses have been accepted by each party except 'Clause No. 6.1.2' which relates to participation of the 'Dutch Trustee' (Administrator) in the meeting of the 'Committee of Creditors'. The agreed 'Terms & Conditions' of 'Cross Border Insolvency Protocol', as excluding clause 6.1.2 reads as follows :--