NCLT Rejects Liquidator's Plea for Rs 500 Crore Boeing Refund

The National Company Law Tribunal (NCLT) has dismissed Jet Airways' liquidator's plea to recover Rs 500 crore in advance payments from Boeing. The tribunal stated that the dispute over undelivered aircraft is a complex contractual matter beyond its insolvency jurisdiction.

Jet Airways had made advance payments of $92.13 million to Boeing for two aircraft that were never delivered. Boeing suspended agreements in 2019 due to payment delays and later terminated them, adjusting the advance payments against its admitted claim.

The NCLT ruled that the justification for Boeing's actions and the validity of the set-off require evaluation of agreements and evidence, making it unsuitable for IBC jurisdiction.