Liquidation of Jet Airways: Are 1.43 lakh retail investors staring at complete losses?
Supreme Court of India has ordered liquidation of the crisis-hit airline Jet Airways as the successful bidder Jalan Kalrock Consortium failed to meet financial obligations.
The liquidation order from the apex court meant that the shareholders of Jet Airways, including about 1.43 lakh retail investors, are staring at a bleak future.
When a company is liquidated, it essentially means shutting down of operations, selling off the assets, and distributing the proceeds to pay off debts and obligations.
In this case, retail investors, who bet on the revival of the airline, will likely face losses, as equity shareholders are usually the last in line to receive any funds. In most liquidation cases, there’s often nothing left for equity shareholders, leading to a total loss of their investment.
The bench, chaired by Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra, ordered that requisite steps be taken for starting the liquidation process of the grounded airline.
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