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NCLT Rejects Jet Airways' Plea for ₹500 Crore Refund from Boeing
The National Company Law Tribunal (NCLT) has dismissed Jet Airways' liquidator's plea for a ₹500 crore refund from Boeing, citing a contractual dispute.
Jet Airways had entered into agreements with Boeing in 2013 to purchase two aircraft and paid $92.13 million as advance payments, but the contracts were suspended by Boeing in May 2019 over payment delays.
The NCLT observed that the matter involves a contractual dispute that requires detailed adjudication and evidence, and cannot be decided by the tribunal under the Insolvency and Bankruptcy Code (IBC).