Jet Airways to Sell Mumbai Office Lease to Parthos for ₹370 Crore

As per news reports, Jet Airways (India) Limited has disclosed that it has executed a Deed of Assignment for the transfer of lease rights to one of its prime office properties in Mumbai. The transaction, detailed in a filing dated 26 August 2025 and signed by Chief Financial Officer Ramesh Sundaram, marks a significant step in the airline’s ongoing asset disposal process under the Insolvency and Bankruptcy Code (IBC) and Liquidation Regulations.

Office Lease Transfer

The agreement covers Office No. 201, comprising the entire 2nd floor of a building located at C-68, G-Block, Bandra Kurla Complex, CTS No. 4207 Kole Kalyan, Taluka Andheri, Mumbai. The lease is being transferred to Parthos Properties Pvt Ltd for a consideration of ₹370.25 crore. 

The proposed deal, however, is subject to the approval of the Mumbai Metropolitan Region Development Authority (MMRDA). The company clarified that the transferee is not connected to the promoters or group companies, and the transaction does not qualify as a related party deal.

Liquidation And Background

As per news reports, the lease transfer is part of the larger liquidation of Jet Airways, which ceased operations in April 2019 after 25 years of flying. The airline, once operating a fleet of over 120 aircraft, had dwindled to around 16 owned planes at the time of shutdown due to debt pressures and unpaid salaries. 

Following multiple failed revival attempts, the Supreme Court in November 2024 directed the liquidation process after the winning bidder was unable to implement the resolution plan. Jet Airways’ shares remain suspended from trading owing to procedural requirements.

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Conclusion

By executing the deed to transfer its Bandra Kurla Complex office lease for ₹370.25 crore, Jet Airways continues to monetise assets as part of liquidation. The step reflects the airline’s attempt to address obligations under IBC proceedings while closing another chapter in the history of the once-prominent carrier that shaped India’s aviation sector

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