Please find enclosed intimation regarding execution of deed of assignment.
Awaiting price reaction for this filing.
Jet Airways (India) Limited, currently under liquidation, has executed a Deed of Assignment to transfer the lease and related rights of its office premises at C-68, G-Block, Bandra Kurla Complex, Mumbai (measuring 52,202 sq ft) to M/s Parthos Properties Private Limited. The transfer was carried out through an auction conducted under the Insolvency and Bankruptcy Code (IBC) and Liquidation Regulations, for a total consideration of Rs. 370.25 crore. The transferee is not related to the promoter or promoter group, and the transaction is not a related party transaction. The transfer remains subject to final approval from the Mumbai Metropolitan Region Development Authority (MMRDA).
This is an asset monetization step by the liquidator to realize value for creditors from Jet Airways' non-core real estate assets during the liquidation process. It does not indicate any revival or operational turnaround of the airline business, and existing shareholders are unlikely to benefit as liquidation proceeds are typically distributed to creditors.