NCLT Rejects Jet Airways' Liquidator Plea for Rs 500 Crore from Boeing

The National Company Law Tribunal (NCLT) has rejected Jet Airways' liquidator's plea for a refund of Rs 500 crore from Boeing. The tribunal cited a contractual dispute over advance payments that requires a full trial, rather than an insolvency process.

Jet Airways entered liquidation in November 2024 after failing to secure a revival plan. The airline had paid USD 92.13 million as advance/pre-delivery payments for two aircraft in 2013 under agreements with Boeing. However, Boeing suspended the agreements in May 2019 over payment delays.

The NCLT bench observed that the matter involves a contractual dispute and requires detailed adjudication and evidence. The tribunal ruled that the question of whether Boeing was justified in suspending the agreement, forfeiting advance payments, and setting off its claim falls outside the insolvency jurisdiction.