Jet Airways

Depreciation is provided on Written Down Value method at the rates and in the manner prescribed under the Schedule XIV to the Companies Act, 1956 on fixed assets, other than expenditure incurred on improvements of assets acquired on operating lease, which are written off evenly over the balance period of the lease.

On revalued assets, depreciation is charged over the residual life and the additional charge of depreciation is withdrawn from the Revaluation reserve.

Intangible assets (other than internally generated) are amortized on straight-line basis. Useful life of intangible assets is as given below: Software: 3 years Landing Rights: up to 20 years Trademarks: 10 years

Jet Privilege (JP) Miles, which are valid for three years, are accrued in the individual Jet Privilege accounts of the members based on the sectors they have flown on Jet Airways' network. Provisions are made based on accrued JP Miles (cumulatively for all members) as on the reporting date, in respect of incremental operating expenses, which would be incurred when these miles are redeemed by the members. As and when the miles are actually redeemed, the provision is proportionately reversed to the extent of the operating expenses incurred.

The 'Provision for Taxation' line includes the following elements:

What are the various items constituting 'Non-operating Revenue'? The 'Non-operating Revenue' line includes the following elements:

In case of sale of aircraft, the difference between the sale price and the book value of the aircraft is recognized as profit or loss. Such profit on sale of aircraft forms part of 'Non-operating Revenue' in the Profit/(Loss) Account. In case of aircraft, which is acquired through a hire-purchase agreement, the outstanding hire-purchase installment(s) is repaid out of the sale proceeds.

There is no specific accounting impact in case of lease-back, except accounting for lease rentals as may be applicable in the Profit/(Loss) Account.

Monetary items denominated in foreign currencies at year-end are restated at year-end rates. In case of monetary items which are covered by forward exchange contracts, the difference between the year end rate and rate on the date of the contract is recognized as exchange difference and the premium paid on forward contracts is recognized over the life of the contract.

Any income or expense on account of exchange difference either on settlement or on translation is recognized in the Profit and Loss Account except in cases where they relate to acquisition of fixed assets in which case, they are adjusted to the carrying cost of such assets.

Financial Derivative instruments are considered as off-balance sheet items and cash flows arising therefrom are recognized in the books of accounts as and when the settlements take place in accordance with the terms of the respective contracts over the tenor thereof. The gain/loss accrued on unsettled financial derivative instruments is taken to the Profit & Loss account on the reporting date. Gains/losses from derivative transactions are adjusted under the head, 'Interest Expenditure', in the Profit & Loss account.

Our commission structure in case of passenger fares is as follows: Agency commission to travel agents:5% on INR fares and 7% on USD fares Over-riding commission to General Sales Agent (GSA): 2% - 3% Corporate incentives are provided as per individual agreements.

Aircraft maintenance, Auxiliary Power Unit (APU) and engine maintenance as well as repair costs are expensed as incurred, except where such overhaul cost in respect of engines/ APU is covered by third party maintenance agreement and these are accounted in accordance therewith.

1. I am interested to buy Jet Airways shares. Where can I buy them?
Jet Airways shares are traded on the National Stock Exchange and The Stock Exchange Mumbai. You may contact any broker in your city and purchase the shares.

2.I am interested in your financial reports, company information, and anything relating to your marketing strategy. What can you send me?
All financial information that is made public by the Company is available on our website under Investors Relations section.

1. If there is a change in my address what is the procedure to get it recorded?
If the shares held by you are in physical form, kindly send a request letter signed by the shareholder (first named shareholder in case of joint-holders) giving the new address along with the Pin Code. Please quote your folio number without fail. In case the shares held by you are in demat, please inform the change to your Depository Participant (DP).

2. Can joint-holders request for a change of address?
No. The letter of request will require the signature of the first holder only.

3. Can there be multiple addresses for a single folio?
No. There can be only one registered address for one folio.

4. If the shares are dematted, what is the procedure for change of address?
Since your Depository Participant maintains your record of dematted shares, you have to inform them about any change in your address. Your Depository Participant will then pass on this information when any action like despatch of Annual Accounts or payment of dividend etc., is due to be taken by the Company.

1. What is Demat and what are its benefits?Dematerialisation ('Demat' in short form) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding. It is a direct application of scope provided by the tremendous progress made in the area of Information Technology whereby voluminous and cumbersome paper work involved in the scrip based system is eliminated. It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical form to electronic form.

Demat attempts to avoid the time consuming and complex process of getting shares transferred in the name of buyers as well its inherent problems of bad deliveries, delay in processing/fraudulent interception in postal transit, etc.Dematerialisation of shares is optional and an investor can still hold shares in physical form.

However, he/she has to demat the shares if he/she wishes to sell the same through the Stock Exchanges. Similarly, if an investor purchases shares, he/she will get delivery of the shares in demat form.

The Depositories Act, 1996 has been enacted to regulate the matters related and incidental to the operation of Depositories and demat operations. Two Depositories are in operation - National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).

2. How does the Depository System operate?
The operations in the Depository System involve the participation of a Depository, Depository Participants, Company/Registrars and Investors. The company is also called the Issuer.

A Depository (NSDL and CDSL) is an organisation like a Central Bank, i.e. Reserve Bank where the securities of an investor are held in electronic form, through Depository participants.

A Depository Participant is the agent of the Depository and is the medium through which the shares are held in the electronic form. They are also the representatives of the investor, providing the link between the investor and the company through the Depository.

To draw analogy, the Depository system functions very much like the banking system. A bank holds funds in accounts whereas; a Depository holds securities in accounts for its clients. A bank transfers funds between accounts whereas; a Depository transfers securities between accounts.

In both systems, the transfer of funds or securities happens without the actual handling of funds or securities. Both the banks and the Depository are accountable for safe keeping of funds and securities respectively. The Company has to sign an Agreement with NSDL/CDSL (the depositories) and install the necessary hardware/software for operations.

3. How do I demat my shares?
First, you will have to open an account with a Depository Participant (DP) and get a unique Client ID number. Thereafter, you will have to fill up a Dematerialisation Request Form (DRF) provided by the DP and surrender the physical shares intended to be dematted to the DP. The DP upon receipt of the shares and the DRF, will send an electronic request to the Company / Registrars through the Depository for confirmation of demat. Each request will bear a unique transaction number. The DP will simultaneously surrender the DRF and the shares to the Company/Registrars with a covering letter requesting to confirm the demat. The Company/Registrars after necessary verification of the documents received from the DP and if found in order will confirm demat to the Depository. This confirmation will be passed on from the Depository to the DP, which holds your account. After receiving this confirmation from the Depository, the DP will credit the account with the shares so dematerialised. The DP will hold the shares in the dematerialised form thereafter on your behalf. And you will become beneficial owner of these dematerialised shares.

4. Once my shares are dematted, can I ever get them converted into physical shares? If you are holding shares in electronic form, you still have the option to convert your holding in physical form by submitting a Rematerialisation Request Form (RRF) through your DP in the same manner as Dematerialisation. Upon receipt of such request from your DP, the Company/Registrars will issue share certificate(s) for the number of share(s) so rematerialised.

5. What are the charges to be paid to demat one's physical shares?
Will it be paid by the company or do I have to pay for it? The charges for demat have to be borne by the shareholder. The charges differ from DP to DP and therefore you will have to choose your DP for the same.

6. I have purchased some shares in paper form. Can I directly give the share certificate(s) to my Depository Participant for dematting them in my favour?
Prior to dematting your shares, they have to be registered in your favour. Hence, you have to necessarily lodge the share certificates with a duly executed transfer deed for registration of shares in your favour which can be subsequently dematerialized.

7. Is it a fact that the shares are to be traded compulsorily in Demat Form?
Do I have the option of holding them in physical form? Yes. the shares of most companies are to be compulsorily traded in demat form. However you can still buy shares in physical form upto 500 (through odd lot window facility provided by the Mumbai Stock Exchange) and send the same for transfer. After the transfer is registered in your favour, the share certificates in physical form will be forwarded to you.

8. How do I get my dividends on dematted shares?
Will I get the Annual Report after I demat my shares and would I be able to attend the AGM? The Depositories (NSDL/CDSL) will provide the list of demat account holders and the number of shares held by them in electronic form on the Record date to the Company /Registrar (known as Benpos). On the basis of Benpos, the Company concerned will issue dividend warrants in favour of the demat account holders. The rights of the shareholders holding shares in demat form are at par with the holders in physical form. Hence you will be eligible to get the Annual Report and will have the right to attend the AGM as a shareholder.

9. What are the chances of any fraud/disputes in using a demat account? Whom should I approach in such cases? Common risk factors applicable to trading in physical shares like mismatch in signatures, loss in postal transit, etc., are absent since the dematted shares are traded scrip less. However, in the unlikely event of any other dispute, the concerned Stock Exchange and/or Depository Custodian viz. NSDL/CSDL or SEBI would have to be approached for resolving such issues. 10. Can I pledge my shares in demat form for the purpose of availing any funding/loan arrangement with my bankers?
Yes. You will have to contact your DP for this.

1. I have not received my dividend. What action do I take?
You may please write to our Registrar quoting the name of our company furnishing the particulars of the dividend not received and also quoting your folio number/client ID particulars (in case of dematted shares). Our Registrar will verify the records and provide you with the status.

2. What is the procedure for obtaining a duplicate dividend warrant?
If the dividend warrant is still shown as unpaid in the Bank Statement, our Registrar shall issue a duplicate warrant to you expeditiously, on providing an indemnity bond.

3. Can I claim the old dividends relating to past years which have not been received by me?
As per the present law, the dividends issued prior to the year 1995, if found unpaid / unclaimed, such amounts are required to be transferred to the Central Government. Unpaid/unclaimed dividends issued subsequent to the year 1995 and if such dividends are more than 7 years old, such dividends cannot be claimed. If you have not received any of these dividends, you may please write to our Registrar with relevant particulars like folio number, concerned dividend, etc., and they shall clarify the status and arrange to pay the dividend if it remains unpaid as per the records.

4. Whom should we approach if the outstanding dividend pertains to a period before October 1995? You may please make an application to the concerned Registrar of Companies, in Form No. II. However, please note that the unpaid / unclaimed dividend amounts transferred to the Investor Education and Protection fund established under the Companies Act,1956 in the year 2002 and as per the applicable law no refund can be claimed by the shareholders or such dividends

5. In order to protect against fraudulent encashment, I want to incorporate the details of my bank account in my dividend warrant. What is the procedure that I should follow?
Currently the bank account particulars are being overprinted on the dividend warrants wherever Available and in the absence of the same, complete address is printed to avoid possible fraudulent encashment. In case you have not provided your bank account details in the past or wish to change, please forward a communication as stated below

a) If you are holding shares in physical form, please quote the name of the company and give your folio number, details of name , of your bank and account number to our Registrar and they shall incorporate the same in all your future dividend warrants.

b)If you are holding the shares in demat form, such details will have to be given to your Depository Participant with whom you have a demat account. Your Depository Participant in turn will pass on this information to the company through the Depositories NSDL/CDSL. This procedure is in accordance with depository regulations.

6. Why can't the Company/Registrars take on record the bank details in case of dematted shares?
As per the Depository Regulations, the Company concerned is obliged to pay dividend as per the details of demat shareholders furnished by the concerned Depository Participant. The Company or their Registrars cannot make any change in such records received from the Depositories.

7. What is Electronic Clearing Service (ECS)?
Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids a lot of hassles like loss/fraudulent interception of dividend warrants during postal transit. This also expedites payment through credit to your account compared to dividend warrants in physical form. We strongly recommend that if you have not already opted for Electronic Clearing Service, you may please do so.

8. How can I avail of the Electronic Clearing Service facility?
In case you are holding shares in physical form, you should submit the ECS form duly completed along with a photocopy of a leaf of your cheque as advised in the Form to our Registrar. As a result, all subsequent dividends will be paid to you through direct credit to your bank account. However, if the shares are in demat, please get in touch with your DP.

9. Is the ECS facility available across the country?No. The Reserve Bank of India has enabled ECS facility at select cities only. This facility is being provided by most of the companies to the investor based cities viz., Ahmedabad, Bangalore, Bhubaneswar, Chandigarh, Chennai, Coimbatore, Delhi, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Ludhiana, Mumbai, Nagpur, Patna, Pune, Surat, Trivandrum and Vadodara.

1. I have lost/misplaced my share certificates. What are the steps that I should take to obtain duplicate share certificates?
Please inform our Registrars immediately about loss of share certificates quoting the name of the Company your folio number and details of share certificates if available. Our Registrars will immediately mark a caution on your folio to prevent any further transfer of shares covered by the lost share certificates. Simultaneously, you will have to lodge a complaint with the police regarding loss of share certificates and also furnish an acknowledged copy of the police complaint to our Registrars. Upon receipt of all the above, our Registrars shall advise you further formalities to be complied with for issue of duplicate certificates. However please note that if the lost share certificates are lodged together with a valid transfer deed by a third party for transfer, the case will be dealt with on the basis of relevant facts and our Registrars shall advise further course of action at that time.

2. I have lost my share certificate with transfer deeds duly executed by me. How should I proceed to obtain duplicate share certificates?
You have to follow the procedure described in the preceding answer.

3. What action should I take if I retrieve the original share certificate, which I had reported to be lost to the Company/Registrars?
Please surrender the original share certificate to our Registrar immediately, if the duplicate share certificates have been issued. However, if the original share certificates are found before you comply with the procedure for obtaining duplicate share certificate, please inform our Registrar immediately so that our Registrar can remove the caution marked against such share certificates.

1. I wish to split/consolidate my share certificates. What is the procedure that I should follow?
Please forward your share certificates along with a request letter signed by all the registered shareholder/s and our Registrar shall split/consolidate the share certificates as may be required by you.

2. I am holding more than one folio in the same name. Can I consolidate these folios?
Yes. Please forward the share certificate(s) relating to those folios which you wish to merge to our Registrars and they will consolidate your folios and return the share certificates by endorsing the consolidated folio number. You may please note that the folios to be consolidated should be in the identical name and in the same order of identical names (in case of joint-holding) and bear the same address.

3. We are holding shares in joint names and would like to change the order of names.
Please forward your share certificates along with a request letter duly signed by all the joint-holders as per the specimen signatures recorded

1. How do I make a nomination with regard to my shareholding?
You have to submit a nomination form duly filled in duplicate and signed. If you are holding shares along with other holders then all the holders will have to sign the nomination form.

After the form is received by the company, and if found in order, a registration number will be allotted to the nomination. A duplicate copy of the nomination form received from you will then be returned back to you with an endorsement indicating the registration number and date.

Nomination can be made only in respect of shares held in physical form. In case of dematted shares, your nomination has to be recorded with your Depository Participant.

Only one nomination can be made for each folio. Folios having different order or combination of names of shareholders will require separate nominations.

2. Do I have to send my share certificates along with the nomination form?
No.


3. My shares are held in joint names. Are the joint holder/s nominees to the shares?
Joint holders are not nominees. They are joint holders of the relevant shares having joint rights on the same. In the unfortunate event of death of any one of the joint holders, the surviving joint holder/s of the shares is/are the only person/persons recognised by the Company as the holders of the shares.

4.Can a nomination once made be changed?
Nomination once made can be revoked by a shareholder by giving a fresh nomination. If the nomination is made by joint holders, and one of the joint-holders dies, the remaining joint holder/s can make a fresh nomination by revoking existing nomination.

5. What is the legal position of the nominee in case of death of the shareholders?
Upon the death of a shareholder, the Nominee, to the exclusion of any other legal heir/beneficiary, is the only person in whom the shares vest. In other words, in case of a valid nomination, the Company will not entertain any claim from legal heirs or beneficiaries and the shares will be transmitted only in favour of the Nominee.

In case if the nomination is made by joint-holders, the nomination will come into play only upon the death of all the joint holders. Therefore if one of the joint shareholders dies, the shares will devolve on the surviving shareholders to the exclusion of the Nominee. In this case the surviving shareholders may make a fresh nomination if they so desire.

6. What is the procedure for the nominee to get the shares in his name?
Upon death of a shareholder, the nominee is entitled to have the shares transmitted in his favour. He/She will have to give a notice in writing to this effect along with the share certificate(s) of the deceased shareholders. Alternatively, the nominee can transfer the shares held by the deceased shareholder, to a third party.


If a nominee opts for registration of shares in his name, he is required to produce proof of identity, e.g., copy of passport, driving license, voter's identity card or such other proof to the satisfaction of the Company. The nominee should also submit his specimen signature duly attested along with a request for transfer.

Upon scrutiny of the documents submitted by the nominee, shares will be transmitted in his favour and share certificates returned to him duly endorsed.

7. Can the nominee sell the shares without registration in his favour? What is the procedure?
Yes, a nominee can sell the shares to a third party, without registration of shares in his favour. However, the usual procedure for transfer of shares will have to be followed.

8. I have shares in the demat form. Can I send the nomination form to the Company/Registrars for making a nomination with respect to my shareholding?

For making a nomination with respect to dematted shares, you will have to approach your DP. In the account opening form provided by the Depository Participants there is a provision for providing the name of the nominee. Please consult your Depository Participant for further details.

1. I have purchased physical shares. How do I get them registered? How long will it take?
You will have to send the share certificates along with the Share Transfer Deed, (available with Stock Exchange/Share Brokers) duly filled in, executed and affixed with share transfer stamps at 0.25% of the market value on the date of execution of the transfer deed. The shares, along with the Share Transfer Deed will have to be sent to our Registrar. Normally, it takes 15 days for processing the transfer the shares are registered in your name, and the share certificates will be dispatched to you.

2. I would like to gift some shares to my children/relatives. How do I get them registered in their names?
Does it involve stamp duty? The procedure of registration of shares gifted is same as the procedure for a normal transfer. The stamp duty is also applicable in case of gifted shares, and the duty is at 0.25% of the market value prevailing on the date of execution of the transfer deed by the transferee.

3. Where should I send the shares for transfer?
Registration of Share Transfer is carried out only at the Office of our Registrars at the contact address given above. Please send in through post/reputed courier to our Registrar’s office in Hyderabad. However you may lodge the documents at any of Registrar in your city and obtain receipt for the same.

4. What is the stamp duty on shares?
v Where do I get these stamps? The stamp duty applicable on share transfer is at 0.25% on the market value on the date of execution of the transfer deed. Share Transfer Stamps can be obtained from the authorised stamp vendors. Your sharebroker can also help you in this regard.

5. How do I ensure that the Transfer Deed is complete before sending it to the company?
Please fill in all the columns of the transfer deed, sign as transferee at appropriate places and affix share transfer stamps at 0.25% of the market value on the date of execution of the transfer deed. Please ensure that the transfer deed is duly filled in and executed as explained, to avoid any discrepancy/objection on lodgement.

6. I want to add another joint-holder name to my shareholding. What is the procedure that I should follow?
You have to execute a transfer deed, duly stamped and submit the same to our Registrar for transfer. Please note that such addition of name amounts to change in ownership of shares and the procedure for transfer has to be followed.

7. I have purchased physical shares long back but I forgot to get them transferred in my favour. What is the procedure that I should follow now?
A transfer deed is valid for a period of one year from the presentation date indicated in the stamp affixed by the Registrar of Companies on the upper portion of the deed or the closure date of Register of Members immediately after the presentation date, whichever is later. Please check whether your transfer deed is still valid. If so, submit the transfer deed duly executed and stamped along with share certificates to our Registrar for transfer in your favour.

If the validity period of the transfer deed has expired you will have to approach the Registrar of Companies for extending the validity of the transfer deed. Alternatively, you may approach the registered holder/seller whose signatures are appearing on the transfer deed as seller to execute fresh transfer deeds. Thereafter you may submit the fresh/revalidated transfer deed to our Registrar for transfer. Revalidation of transfer deed(s) is not applicable in case of entities which are not under the purview of Registrar of Companies.

1. In case of joint holdings, in the event of death of one shareholder, how do the surviving shareholders get the shares in their names?
The surviving shareholders will have to submit a request letter supported by an attested copy of the Death Certificate of the deceased shareholder and the relevant share certificates. The Company on receipt of the said documents will delete the name of deceased shareholder from its records and return the share certificates to the applicant/registered holder with necessary endorsement.

2. If a shareholder who held shares in his sole name dies without leaving a will, how can his legal heir/s (either husband/wife/son/daughter, etc.) get the shares transmitted in their names?
The legal heirs should obtain a Succession Certificate or Letter of Administration with respect to the shares and a true copy of the same, duly attested by the Court Officer, or Notary should be sent to the Company along with a request letter, transmission form, and all the share certificates in original, for transmission in their favour.

3. If the deceased family member who held shares in his/her own name (single) had left a will, how do the legal heir/s get the shares transmitted in their names?
The legal heirs will have to get the will probated by the High Court/District Court of competent jurisdiction and then send a copy of the probated copy of the will, along with relevant schedule/annexure setting out the details of the shares, the relevant share certificates in original and transmission form for transmission.

4. A and B had shares in a Company. Both of them died. How do I get the shares transmitted in my name?
You should obtain a Succession Certificate/Letter of Administration of the last deceased joint holder in your favour and follow the procedure for transmission of shares.

5.I have already produced the attested/registered will. Since getting it probated would take a long time and money can I avoid that procedure? You will appreciate that in order to ascertain that the will in question is the last will and testament made by the deceased, it is important that the same is authenticated/probated by the Court. This is to protect the interest of the investors at large and to obviate any future claims/disputes on the same.

6.The name of a joint holder was included only for convenience by the first holder. I am the only heir. Could you transfer the shares in my name as per the will/probate?
As per law, the joint holder is deemed to be having indivisible ownership of the joint property and the Company cannot ascertain as to how or why the name was included. As per the Articles of Association of the Company, the surviving joint holders are the only persons recognised as having title to the shares.

Company Contact
Ms. Sheetal S. Tamhane
Designation: Company Secretary
Phone: +9122 2920 1744
Fax: +9122 2852 7745
E-mail: companysecretary@jetairways.com
Registrar Details

Karvy Computershare Private Limited Plot No. 17-24, Vittalrao Nagar Madhapur, Hyderabad 500 081

Telephone: +91 40 2342 0818 / 2342 0824
Fax: +91 40 2342 0814
Department Head: Mr. S. V. Raju
E-mail:svraju@karvy.com;einward.ris@karvy.com; mailmanager@karvy.com