"We are being offered peanuts" that's the reaction coming in from upset Jet Airways employees as payout for claims under the the revival plan are less than 5 percent of what is actually owed.
With only Rs 52 cr earmarked for employees in the resolution vs claims of Rs 1,265 crore the new consortium is looking to pay only Rs 23,000 per employee vs claims which range between 3 lakhs to 85 lakhs.
With the approval of the National Company Law Tribunal (NCLT) to the resolution plan of Kalrock-Jalan consortium, the Insolvency Resolution Process (CIRP) of Jet Airways has already concluded.Now the employees have 90 days to accept or go into a long legal battle to counter the claims being offered.