Dutch administrator, Jet Airways' RP agree to cooperate in insolvency Trai seeks public view on 11-digit mobile numbers
NEW DELHI: The resolution professional of Jet Airways and Dutch insolvency administrator have agreed to cooperate in insolvency proceedings against the debt-ridden airline, the National Company Law Appellate Tribunal (NCLAT) was informed on Friday.
The RP and the Dutch Court Administrator have agreed on terms and conditions on which they will cooperate in the ongoing insolvency process.
The appellate tribunal has asked both parties to file their terms and conditions by Monday and listed the matter for hearing on September 24.
During the proceedings, counsel appearing for both sides informed the Committee of Creditors (COC) has agreed on all conditions except one. According to them, the COC was opposing presence of Dutch Court Administrator in their meeting. However, on this, NCLAT Chairman S J Mukhopadhaya observed that the Dutch Court Administrator has all rights to be there. "He should be there he has to collate his claims. Both sides should go together," said NCLAT Chairman adding "he must be there for maximisation of assets."
The NCLAT further said there should be transparency in the insolvency resolution process and each financial and operational creditor has the right to be there.
Jet Airways is facing insolvency proceedings in the Netherlands and was declared bankrupt in response to a complaint filed by two European creditors. NEW DELHI: Telecom regulator Trai has sought public views on increasing the digits in a mobile phone number to 11 from 10 at present as one of the options to address rising demand for telecom connections in line with growing population.
The government has already started 13-digit number series for Internet of Things and machine to machine communications. However, according to an assessment by the Telecom Regulatory Authority of India (Trai), around 2.6 billion more numbers would be required to cater to need of the country by 2050.
Trai in its consultation paper on "Developing a unified numbering plan" for fixed line and mobile services said that even if it is assumed that there will be 200 per cent wireless tele-density in India in 2050, the number of mobile telephones working in this country is likely to be nearly 3.28 billion.