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‘Unsolicited’ investor shows interest in Jet

April 24, 2019 10:59 pm | Updated 11:00 pm IST - MUMBAI

Jet Airways said it had received an ‘unsolicited email communication’ showing interest to invest in the airline.

“The sender has been advised to formally engage with SBI Caps Ltd., who are leading the bidding process under the resolution plan initiated by the consortium of lenders led by SBI,” Jet Airways said in response to a clarification sought by BSE.

A British entrepreneur named Jason Unsworth having a company called ‘Atmosphere Intercontinental Airlines’ had reportedly written to Jet Airways without knowing that the airline had no power to entertain such a query as banks are running the bidding process.

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A visit to Atmosphere’s website indicated that the company has been looking for investments to commence flight operations from London Stansted to Thailand, Vietnam, Mexico, Spain and Tanzania, and to various parts of the world including China, Japan and Korea. It does not have a single plane, but intends to induct a Boeing fleet comprising 787s, 777s and 737s.

As per the website, the company intends to start commercial operations in 2019.

As per the bidding conditions, this player is not qualified to participate in the bid as it had not entered from the expression of interest stage.

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Meanwhile, NSE has slapped a notice on Jet Airways for violation of SEBI norms. “ you are aware, Regulation 46 of SEBI (LODR) Regulations, 2015, the listed entity is required to maintain a functional website containing the information as prescribed. It is observed that the information required to be disseminated by the listed entity on the website is not available on the company’s website,” the notice said.

“It is also observed that the company has stated in its corporate governance report for the quarter ended March 31, 2019 that disclosures are made in the company’s website in terms of Listing Regulations,” the NSE notice said, adding that this was an incorrect disclosure.

Responding, Jet Airways said, “Since the company has temporarily suspended its operations, the website was under heavy maintenance. The company has carried out the necessary changes.”

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