Jet Airways’ BKC Office Space up for HDFC Bank Auction Over Loan Default

Jet Airways’ BKC Office Space up for HDFC Bank Auction Over Loan Default

New Delhi: After money strapped Jet Airways failed to pay back a loan of Rs 414.80 crore, HDFC said that it will public sale a part of the ‘Jet Airways Godrej BKC’ tower located in Bandra Kurla. The e-auction sale will likely be held on May 15, 2019, and for the 4th floor of the building of 52,775 sqft, it has set a reserve rate of Rs 245 crore.

Last month, the Mumbai-headquartered airline, Jet Airways suspended its operations on a transitority basis after lenders rejected Jet Airways’ request for Rs 400 crore lifeline. For the period of a Mumbai Metropolitan Region development Authority (MMRDA) auction sale to increase the BKC plot in the year 2008, it had bid Rs 826 crore, in keeping with a information record in ToI.

In 2011, Jet Airways tied up with Godrej residences to jointly advance the plot. Drugmaker Abbott India bought house measuring 4.35 lakh sqft within the constructing for Rs 1,479 crore. According to HDFC, the property used to be mortgaged to it with the aid of Jet and it was now imposing the loan.

Jet Airways’s 26 anniversary ‘saddest of all days with no flights’: Naresh Goyal

On could 5, debt-laden down airline, Jet Airways’ ex-Chairman Naresh Goyal even as describing Jet Airways’ 26th anniversary as ‘saddest of all days with out a flights’ mentioned that from a group company, he has made Rs 250 crore to be had to banks.

Naresh Goyal jet airways

Jet Airways owes 11 banks, including nine Indian banks, about ₹11,261 crore. (Reuters)

Naresh Goyal had written a mail to his employees on Monday, “There will probably be a optimistic end result on may 10 as per the BLRP (bank-led provisional resolution plan) deadline…. Desire to witness the blazing sun reappear from at the back of the dark clouds of the previous weeks, on a canvas of never-ending blue”. “From a group corporation I’ve made Rs 250 crore to be had to banks. I have pledged my shareholding in 9W; stepped down as your chairman (and) Neeta (wife) has stepped down from the board of directors,” his letter says.