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Vrihis Properties to take over Jet Airways' BKC office

Tuesday, 30 Jun 2020
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Mumbai-based Vrihis Properties has emerged as a successful bidder for the Jet Airways' Bandra Kurla Complex-situated premises in Maharashtra.

The company has decided to accept the offer of the successful bidder for the transfer of the immovable property, at a price of Rs 490 crore.

The proceeds from the sale will be utilised as per the directions of the NCLT.

The successful bidder is not a part of the promoter group of the company or a group company and the proposed transaction will not qualify as a related-party transaction.

The insolvency professional had sought permission of the NCLT for the sale of the premises after a resolution was passed at the 10th committee of creditors (CoC) meeting held on April 24 with approval of 74.45 percent votes.

The immovable property is not a core asset of the company and will not impact its prospects of reviving its aviation business.

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