Vrihis Properties to take over Jet Airways' BKC office
The proceeds from the sale will be utilised as per the directions of the NCLT
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.