Jet Airways office in Mumbai’s BKC up for auction

Shiv Kumar

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Tribune News Service

Mumbai, June 13

The main office of the bankrupt Jet Airways in Mumbai’s Bandra Kurla Complex has been put up for auction by the resolution professional of the troubled airline.

According to the notice put up by the resolution professional, the office located on the third and fourth floor of the ‘Jet Airways

Godrej BKC’ building will be auctioned on June 26.

The reserve price for the property has been kept at Rs 490 crore and intending bidders will have to pay an earnest money deposit of Rs 25 crore. The earnest money will be refunded to unsuccessful bidders, according to the bid document.

The property put up for sale measures around 169,983 sq ft saleable area and comes with a parking space for 140 cars, according to the notice.

Sources in the aviation industry said the property functioned as the main office of the airline in the past.

An earlier attempt to auction the premises was made by HDFC in 2019. The financial institution held the office as collateral against Rs 400 crore loan to the airline.

The National Company Law Tribunal (NCLT) had earlier this week allowed the lenders to auction the property as part of efforts to recover the dues owned by the defunct airline.