The National Company Law Appellate Tribunal has agreed to hear a petition by the Dutch court administrator in the Jet Airways (India) Ltd. insolvency case.
An NCLAT bench headed by Justice SJ Mukhopadhyay said it will clarify the law on action to be taken when there are two insolvency petitions filed against the same company in two different countries.
The appellate tribunal has issued notice to State Bank of India which had filed the insolvency petition against Jet Airways with National Company Law Tribunal in Mumbai. The NCLAT has asked all parties involved to suggest the course of action to be taken while deciding such a case.
The NCLAT has also stayed parts of NCLT order which declared the insolvency proceedings in the Netherlands court null and void. The appellate tribunal has also asked the Netherlands court representative not to sell any assets of the airline.
The parties have two weeks to file their replies and the case will be heard on August 21.
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