As you already know that last week the National Companies Law Tribunal (NCLT) approved the revival plan submitted by the consortium of UAE-based businessmen Murari Lal Jalan and the London-based Kalrock Capital.
Today, the bankruptcy court issued the final revival order of Jet Airways, the carrier which was grounded in 2019 due to a mounting pile of debts.
The final order stated that the refund claims of 5081 customers were accepted by the Interim Resolution Professional of Jet Airways.
But, the court has ordered that a refund of up to ₹15,000 be provided against per claim. This means if your claims are up to ₹15000 they will be processed on actuals and if the claim amount is over ₹15000 it will be processed to a max of ₹15000.
Here is what the latest order said on ‘Operational Creditors classified as Ticket Refund’
Jet Airways Refunds
The SRA submits that the Operational Creditors classified as “Ticket Refund” in the list of Creditors (total 5081 in number) shall have the option to either choose to get a cash refund or seek credit for future tickets, but not both. No claims relating to lost Jet Privilege Miles will be entertained. It is clarified that the liquidation value payable to claimants of ticket refunds will be paid in cash.
- For claims up to INR 15,000, a refund will be processed as per actuals.
- For claims over ₹. 15,000, a refund will be processed to a maximum of INR 15,000.
Credit for Future Tickets
- For claims up to INR 15,000, credit for future tickets will be provided as per actual admitted claim amounts.
- For claims above INR 15,000, credit for future tickets will be provided subject to a maximum of INR 15,000.
- Credit for future tickets will be issued in the form of redeemable vouchers in the multiples of INR 1,000/- (equivalent to INR 1,000 worth of credit for future tickets).
- Vouchers will be transferable in nature (prior to issuance of any ticket). No tickets will be transferable in nature.
- Vouchers can be redeemed against more than 1 (one) ticket.
- Booking of tickets against redemption of such vouchers must be completed within 30 Days of the Corporate Debtor recommencing (Jet 2.0) its domestic operations.
- Tickets can be availed during April – June Quarter and August – October Quarter on any sector where Jet 2.0 flies.
If you want to know whether your refund claim was admitted or not, you can check from the below button.