MCA seeks details from crisis-hit Jet and it’s auditors

NEW DELHI: The corporate affairs ministry has sought details from crisis-hit Jet Airways about certain issues as well as from its auditors on the postponement of quarterly results, a senior official has said.

The full service carrier, whose board is scheduled to consider the financial results for the June quarter on Monday, is exploring ways to reduce costs amid financial woes.

A senior ministry official said the Registrar of Companies (RoC) has asked for details from the airline about certain issues and that the process is going on. Specific details could not be immediately ascertained. To a query on whether the airline has received queries from the RoC regarding financial issues and delay in announcement of quarterly results, a Jet Airways spokesperson said “it has not received anything in this regard.” Information has also been sought from the airline's auditors against the backdrop of the airline deferring the announcement of June quarter results, he added.


With respect to Jet Airways, the RoC has only sought details and things are at a preliminary stage. As of now, there is no decision on whether to carry out inspection of its books or an investigation, the official said.

Last week, sources had said that the ministry is seeking clarifications from the auditors of the airline for the delay in announcement of results. Markets regulator Sebi is also looking into the airline delaying June quarter results after the carrier's audit committee expressed reservations, sources said earlier this month.

The Jet board would consider cost reduction initiatives and turnaround plan along with June quarter results at its meeting on August 27.

The airline’s board, on August 9, deferred announcement of unaudited financial results for the June quarter. PTI