{"id":244343,"date":"2021-02-24T18:40:04","date_gmt":"2021-02-24T13:10:04","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=244343"},"modified":"2021-03-05T11:49:00","modified_gmt":"2021-03-05T06:19:00","slug":"jet-airways","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/24\/jet-airways\/","title":{"rendered":"NCLT | Whether Resolution Plan can be shared with Jet Airways employees or not? Verdict explains provisions revolving around confidentiality, purpose of code and more"},"content":{"rendered":"

National Company Law Tribunal, Mumbai Bench: <\/strong>The Coram of Janab Mohammed Ajmal (Judicial Member) and V. Nallasenapathy (Technical Member),\u00a0 decided the issue of whether the Resolution Plan could be shared with the employees of Jet Airways.\"\"<\/p>\n

Who all are the applicants?<\/strong><\/span><\/p>\n

Pilots of Jet Airways (Corporate Debtor) were represented by a Union named National Aviators\u2019 Guild, Maintenance Engineers of the Corporate Debtor under the umbrella of Jet Aircraft Maintenance Engineers\u2019 Welfare Association, Bhartiya Kamgar Sena (BKS) and Jet Airways Cabin Crew Association (JACCA) respectively representing 70% of the ground staff and the majority of the Cabin Crew of the Corporate Debtor and All India Jet Airways Officers\u2019 and Staff Association, they all sought a direction to Respondent (Resolution Professional) to furnish each of the entities\/applicants a full copy of the entire Resolution Plan approved by the CoC.<\/p>\n

Reasoning | Why do the applicants want to know the details of Resolution plan?<\/strong><\/span><\/p>\n

Applicants state that they are unaware of the details of the Resolution Plan and hence they needed to know what was provided under the RP for its members and employees.<\/p>\n

Vital concern of the applicants is with regard to the terms and conditions of the Resolution Plan. Further, it has been added that any revival plan, for that matter, both in terms of employment and provision for outstanding wages\/dues, is vital for their sustenance and mutual benefit.<\/p>\n

Some of the employees have lingered on the rolls of the Corporate Debtor despite the financial hardships and difficulty it entailed.<\/p>\n

Adding to the above, it has also been stated that natural justice demands that the applicants remain aware of the Plan and how it is going to take care of their interests or adversely affects them.<\/p>\n

Applicants would be the most affected by the orders of this Authority approving or rejecting the Resolution Plan. Thus, it becomes imperative that the Applicants are made privy to the Resolution Plan before it is considered.<\/p>\n

Further, the applicants claimed that the Resolution Plan could not be held to be confidential as far as the employees of the Corporate Debtor were concerned.<\/p>\n

It is settled law that the interest of the Corporate Debtor is of utmost importance and should be scrupulously protected.<\/em>\u00a0<\/em><\/p>\n

In view of the above stated, the present application has been filed.<\/p>\n

Respondent submitted that the IP Regulations mandate the Resolution Professional to ensure and maintain the confidentiality of the information related to the Insolvency Resolution Process since it contains sensitive information and could only be presented to the CoC.<\/p>\n

Analysis, Law and Decision<\/strong><\/span><\/p>\n

Bench observed that the applicants interest in the Resolution Plan revolves around the payment\/recovery of their dues such as remuneration\/wages, other perquisites including terminal benefits if any.<\/p>\n

What does Regulations 9 & 22 of the CIRP Regulation lay down?<\/strong><\/p>\n

The stated provision lays down the procedure for the workmen and employees to submit their claims before the IRP\/RP.<\/p>\n

Regulation 22 of the IP Regulations mandates that an Insolvency Professional must ensure that the confidentiality of the information relating to the insolvency resolution process, liquidation or bankruptcy process is maintained at all time.<\/p>\n

Hence, Tribunal held that in view of the above-discussed provisions, the reluctance and refusal of the respondent in sharing the copy of the Resolution Plan with the applicants cannot be faulted.<\/p>\n

Natural Justice<\/strong><\/p>\n

Recourse to principles of natural justice and audi alteram partem<\/em> can be taken when the provisions made in a statute fall short of the requirement and the constitutional validity of the Code has been upheld by the Supreme Court in Swiss Ribbons v. Union of India<\/em> (2019) 4 SCC 17<\/a>.<\/p>\n

Adjudicating Authority cannot digress from the express provisions of the Statute and act in the manner not provided thereunder or sanctioned by the statute.<\/p>\n

Tribunal further explained that in view of express provisions in relation to the Resolution Plan, it is clear that the statutory mandate requires that the Resolution Plan can only be presented to the CoC for its approval and presented before the Adjudicating Authority for its satisfaction in approving the same.<\/p>\n

Code or the Regulations thereunder do not contemplate presentation or supply of the Resolution Plan or a copy thereof to any other body or entity.<\/strong><\/span>\u00a0<\/strong><\/p><\/blockquote>\n

Bench agreed with the decision in Anil N. Surwade v. Prashant Jain <\/em>(IA No. 1033 of 2020 in C.P. (IB) No. 1799 of 2018 decided on 28-09-2020).<\/p>\n

\u201c\u2026workmen being at par with the secured creditors are also entitled to privileges of a member of CoC would be fallacious and would go against the grain of the intent and purpose of the Code. \u201c<\/strong><\/p>\n

Bench also added that the applicants are Operational Creditors and the Supreme Court has observed that the role of the Operational Creditors is very limited and confined to the satisfaction of their claims.<\/p>\n

Therefore after a wholesome discussion, Tribunal denied any relief to the applicants with a reasoned order.[National Aviators\u2019 Guild v. Ashish Chhawchharia, 2021 SCC OnLine NCLT 50<\/b><\/a>, decided on 22-02-2021]<\/p>\n

\n

Image credits of the aircraft: Business Today<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

National Company Law Tribunal, Mumbai Bench: The Coram of Janab Mohammed Ajmal (Judicial Member) and V. Nallasenapathy (Technical Member),\u00a0 decided the issue <\/p>\n","protected":false},"author":8808,"featured_media":244348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[30596,2666,30361,31594,2805,30228],"class_list":["post-244343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-corporate-debtor","tag-employees","tag-ibc","tag-jet-airways","tag-natural_justice","tag-resolution-plan"],"yoast_head":"\nNCLT | Whether Resolution Plan can be shared with Jet Airways employees or not? 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Mukhopadhaya (Chairperson) and Justice A.I.S Cheema (Judicial Member) and Kanthi Narahari (Technical Member), while pronouncing an order in regard to the \"Jet Airways\" setback addressed the following question: \"Whether separate proceeding(s) in 'Corporate Insolvency\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":283286,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/06\/supreme-court-upholds-nclat-order-on-payment-of-dues-to-former-employees-of-jet-airways-legal-research-legal-news-updates\/","url_meta":{"origin":244343,"position":1},"title":"Supreme Court upholds NCLAT order on payment of dues to former employees of Jet Airways","author":"Editor","date":"February 6, 2023","format":false,"excerpt":"Supreme Court refused to entertain a plea moved by the consortium and upheld the National Company Law Appellate Tribunal's order directing the consortium to pay the provident fund and gratuity dues of the employees of Jet Airways","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-300.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":276123,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/10\/24\/non-payment-of-full-provident-fund-and-gratuity-violative-of-s-302e-ibc-nclat-directs-jet-airways-to-make-payments\/","url_meta":{"origin":244343,"position":2},"title":"Non-payment of full provident fund and gratuity violative of S. 30(2)(e) IBC; NCLAT directs Jet Airways to make payments","author":"Editor","date":"October 24, 2022","format":false,"excerpt":"\u00a0 \u00a0 National Company Law Appellate Tribunal, Delhi: In a batch of appeals filed challenging order dated 22-06-2021 passed by the National Company Law Tribunal (NCLT), Mumbai approving the Resolution Plan submitted by \u2018Jalan Fritesch Consortium\u2019 with respect to the Corporate Debtor - \u2018Jet Airways (India) Limited\u2019 on various grounds\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":260798,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/01\/29\/once-adjudicating-authority-approves-resolution-plan-does-it-still-remains-a-confidential-document\/","url_meta":{"origin":244343,"position":3},"title":"Once Adjudicating Authority approves Resolution Plan, does it still remains a confidential document? Read what NCLAT says","author":"Bhumika Indulia","date":"January 29, 2022","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): Justice Ashok Bhushan (Chairperson) and Dr Ashok Kumar Mishra (Technical Member) expressed that, once Resolution Plain is approved by the Adjudicating Authority, it no longer remains a confidential document, so as to preclude Regulator and other persons from accessing the said document. Whether the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":267667,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/05\/31\/jet-airways-resolution-plans-implementation-is-subject-to-the-outcome-of-nclat\/","url_meta":{"origin":244343,"position":4},"title":"Jet Airways Resolution Plan\u2019s implementation is subject to the outcome of? Here\u2019s NCLAT\u2019s order","author":"Bhumika Indulia","date":"May 31, 2022","format":false,"excerpt":"National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Shreesha Merla (Technical Member), held that the implementation of the Jet Airways Resolution Plan will be subject to the outcome of appeals filed against the order of National Company Law Tribunal which approved the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":220553,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/07\/nclat-joint-cirp-against-jet-airways-to-continue-dutch-trustee-allowed-to-attend-coc-meetings-as-observer\/","url_meta":{"origin":244343,"position":5},"title":"NCLAT | Joint CIRP against Jet Airways to continue, Dutch Trustee allowed to attend CoC meetings as observer","author":"Bhumika Indulia","date":"October 7, 2019","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): While disposing of the appeal filed by Jet Airways (Offshore Regional Hub), a Bench of Justice S.J. Mukhopadhaya, Chairperson, and Justice A.I.S. Cheema, Member (Judicial), and Kanthi Narahari, Member (Technical), gave finality to the Terms and Conditions of the draft Cross Border Insolvency Protocol,\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/244343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=244343"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/244343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/244348"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=244343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=244343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=244343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}