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NCLT’s Decision for the employees of Jet Airways [Read Judgment]

NCLT Decision for Jet Airways

The approved Resolution Plan includes a five-year business plan as well as cash predictions from the business computed and projected by the successful resolution applicant for the corporate debtor's resuscitation. The fact that the Board is a public authority does not imply that all material supplied to it, including confidential information, is public. With over 20,000 operational creditors and countless members (shareholders) in the current case, the objective could not have been to give such creditors, members, and stakeholders the ability to review the whole Resolution Plan during the Appeal stage.

We first need to notice the scheme of the Code and the Regulations framed thereunder regarding the confidentiality of certain information and reports, including the Resolution Plan in the CIRP proceedings.

 

[Read Judgment]


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