Jet seeks shareholders' approval to convert debt into equity
Cash-strapped Jet Airways on Monday said it is seeking shareholders' approval for allowing lenders to have a say in the airline's operations by converting loans into shares. It has also proposed to increase authorised share capital from â¹200 crore to â¹2,200 crore. The Naresh Goyal-led airline is further seeking to appoint nominees of banks and financial institutions on its board.