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Goyal’s insistence on stake limit waiver clause stalls Jet’s revival plan

The revival plan of Jet Airways’ has been stalled over promoter Naresh Goyal’s insistence that his shareholding shouldn’t be capped at 22% in “perpetuity”. Goyal has sought a waiver of the clause which sought to limit his stake in the airline at 22%. However, Etihad Airways which was supposed to infuse Rs 750 crore emergency funding in Jet, hasn’t approved the funding because of Goyal’s insistence on waiver of the clause. Banks have also refused to infuse any money until the promoter stake is cut from the current 51%. 

Read More at The Economic Times News date : 15 Mar 2019, Friday

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