NCLT Rejects Jet Airways' Rs 500 Cr Boeing Refund Plea
The National Company Law Tribunal (NCLT) has dismissed Jet Airways' liquidator's plea for a Rs 500 crore refund from Boeing. The tribunal ruled that the matter involves a complex contractual dispute beyond its Insolvency and Bankruptcy Code jurisdiction.
Jet Airways had made USD 92.13 million in advance payments to Boeing for aircraft that were never delivered, with Boeing suspending agreements due to payment delays. After adjusting the pre-delivery payments against its larger admitted claim, Boeing's total claim increased from Rs 721.19 crore to Rs 873.78 crore during the liquidation process.
The NCLT stated that such disputed questions of fact and law require a full-fledged trial in a competent court, which cannot be decided by the tribunal under the IBC. The court observed that Boeing's actions, including suspending agreements and adjusting advance payments, were justified, and therefore, the liquidator's plea for refund was rejected.