17,000 new credit cards issued by ICICI linked to wrong users

According to the letter from the association, the National Company Law Tribunal (NCLT) order provides for only a microscopic settlement, pegged at Rs 52 crore to its employees. It also added that many members of the employer's union had sent applications to the NCLT and made them aware of the resolution plan through intervention of application.

After being shut for more than two years due to mounting losses, Jet Airways is planning to resume operations by the first quarter of 2022, according to a report in Business Standard. This is the first time where an airline is being revived through India’s insolvency process. The airline had started engaging with Directorate General of Civil Aviation (DGCA), to revive Jet’s operator permit which lapsed, the report said. A firm plan to the Airport Authority of India (AAI) and private airport operators has been given by Jet 2.0 to restart operations with 20 aircraft connecting 30 cities in the first phase.

Prepping to fly again

The National Company Law Tribunal (NCLT) in June had given approval to the resolution plan of a consortium of Uzbekistan-based business man Murari Lal Jalan and Kalrock Capital.

According to the publication, NCLT has mandated Jet Airways to employ 50 former staff, but 150 people have already been hired.

Key executives in engineering, flight safety, operations and security have been appointed by the airline, many of whom were Jet’s long term employees. Former head of Jet Airways operations and training Sudhir Gaur has been appointed as accountable manager, who will have corporate authority and ensure all tasks comply with regulations. Vijoy Kumar is the head of engineering and Stepehen Dmello has been appointed the head of security.

Jet in talks with Boeing to resume operations

The airline is looking to start operations with Boeing 737 NG and is in talks to revive the 737 MAX order of Jet Airways, which had an orderbook of 225 aircraft. Only five were delivered to the airline by Boeing. It stopped when the airline faced a financial crisis. The manufacturers and lessors said that the aircraft would be available, according to the publication. Last week, India cleared the 737 MAX aircraft.