The Indian Wire » Business » Government orders Jet Airways to submit audit report

Government orders Jet Airways to submit audit report

jet airways

The government had ordered the debt-laden air service provider Jet Airways to submit the findings of its forensic audit report from March. The reports were summoned during the time when Jet Airways founder Naresh Goyal had abandoned all his executive duties in the carrier, reported by Mint.

On the other hand, in the latest series of event in the Jet Airways crisis row, on Saturday, Goyal and his wife were stopped from leaving the country after the flight, they were on-board, was called back by the immigration officials when it had started queuing on Mumbai airport.

As reported by the Mint, a look-out-circular (LOC) was issued against the duo by the Intelligence Bureau at the request of the ministry of corporate affairs which prohibited them from travelling abroad.

The SBI (State Bank of India) led lenders of the cash crunched airline, have been trying to revive the grounded aircraft carrier. They had ordered the forensic audit of the books of Jet Airways to examine the viability of restructuring its debt that it was unable to pay, as cited by Mint.

It seem that the ongoing stake sale talks are the last hope for Jet Airways to regain its wings after it was grounded in April due to lack of funding.

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