Synergy Group Corp., believed to be the sole qualified bidder for Jet Airways, has signed a Non Disclosure Agreements (NDA) with the grounded airline’s Resolution Professional Ashish Chhawchharia, it is learnt.
The NDA was signed on Tuesday offering some hope for the revival of Jet Airways. A person familiar with the development confirmed the move. Till recently, three bidders who were in the fray had applied to participate in the resolution plan.
These include Treasury RA Creator, a financial organisation of Russia, Synergy Group Corp. of South America and the Avantulo Group.
While Avantulo could not submit the desired documents to be qualified for the bid, Treasury could not deposit the required amount on the due date. It is believed that the candidatures of both these parties have been rejected by the Committee of Creditors(CoC).
A confirmation from the CoC could not be obtained immediately. It is also believed that the CoC has done due diligence on Synergy Group Corp. Synergy is a South American conglomerate that owns majority stake in Avianca Holdings which runs the Colombian carrier.
The last date for submission of the resolution plan is October 14.
