Jet Airways shareholders reject financial results for FY20

Shareholders of Jet Airways have rejected the financial results of the company for the financial year 2019-20.

The 28th Annual General meeting (AGM) of the company was held on June 15, 2021 through video conference and other audio-visual means, the company said in a regulatory filing.

“The business mentioned in the notice was transacted except Agenda No 1 (Ordinary Business) i.e, to receive, consider and adopt the Audited Standalone Financial Statement of the company for the FY ended March 31, 2020, together with the Reports of the Auditors thereon, due to the reason that the votes cast against the resolution No 1 were more than the votes cast in favour,” it said.

Hence, the resolution was not passed with requisite majority for which AGM was adjourned sine die and the same shall be considered in adjourned meeting after giving notice to the shareholders.

The grounded airline is under bankruptcy and the resolution plan of the consortium of Kalrock Capital and Murari Lal Jalan has been voted in favour of by the lenders.

The airline has dues of around Rs 8,500 crore.