Complexities of issues delay Q1 results: Jet

The affairs of Jet Airways, which closed down its operations on April 17, are now being managed by resolution professional Ashish Chhawchharia under the insolvency law. In the communication to the exchanges, Chhawchharia said prior to the commencement of the resolution process, directors, CEO, CFO, company secretary and other top management personnel had resigned from the company.

“Further, the access to data was not available until mid-July. Pending book closure process, financial results for the quarter ended June 30, 2019, have not been prepared/ finalised till date...” he noted.

He said the requirement under Regulation 33 of Sebi LODR (Listing Obligations and Disclosure Requirements) cannot be compiled with within the prescribed timelines. The communication, dated August 14, has been submitted to the bourses by the company as a regulatory filing on Friday. “... with the complexities of issues being faced by the company along with the paucity of funding, etc., the entire process is taking time. “I assure you that all the attempts are being made to regularise issues at the earliest,” Chhawchharia said.