Jet Airways to Transfer Mumbai Office Lease for Rs 3.7 Billion

29 Aug 2025 CW Team

Jet Airways, which is currently undergoing liquidation, has announced the execution of an agreement to transfer the lease of its office premises in Mumbai’s Bandra Kurla Complex (BKC) to Parthos Properties Pvt Ltd for Rs 3.70 billion. The transaction, conducted under the Insolvency and Bankruptcy Code (IBC) and Liquidation Regulations, is pending approval from the Mumbai Metropolitan Region Development Authority (MMRDA).

The airline disclosed in a regulatory filing that it has signed a deed of assignment and related documents for the lease transfer of Office No. 201, comprising the entire second floor of a building at C-68, G-Block, BKC, CTS No. 4207, Kole Kalyan, Andheri (Taluka), Mumbai. The filing, dated 26 August, was signed by Jet Airways' Chief Financial Officer Ramesh Sundaram and submitted to the BSE.

Jet Airways ceased operations in April 2019, after 25 years in the skies, amid mounting debt and unpaid employee dues. Though a resolution plan was initially approved under the IBC, its implementation faltered due to unresolved issues. In November 2024, the Supreme Court ordered the liquidation of the airline following prolonged legal proceedings.

At its peak, Jet Airways operated over 120 aircraft. By the time it grounded operations, only 16 aircraft remained under its ownership. The airline’s final flight, S2-3502, operated by its low-cost subsidiary JetLite, departed Amritsar at 10:30 pm on 17 April 2019 and landed in Mumbai shortly after midnight. That Boeing 737-800 aircraft was later taken on lease by SpiceJet.

Trading in Jet Airways’ shares remains suspended due to procedural reasons, while the liquidation process continues with asset sales such as the BKC lease helping recover dues for creditors.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..