Dove Airlines enters final tailspin; commences voluntary liquidation process

After nearly three decades of operational turbulence and financial distress, the long-grounded Dove Airlines Private Limited has officially initiated a voluntary liquidation process, marking the final chapter for the former charter carrier. The announcement, made on Monday, January 5, 2026, signals a transition from the legal purgatory of insolvency to a definitive winding down of the company.

A tale of two entities

The current liquidation involves the West Bengal-registered entity, Dove Airlines Private Limited (CIN: U35301WB2006PTC107699). Incorporated in February 2006 and based at Shakespeare Sarani, Kolkata, this entity was historically a joint venture involving Usha Martin, which divested its 50% stake in 2015 to stem corporate losses.

This contrasts with an older Delhi-based entity (CIN: U62100DL1995PTC072184) promoted by the Jain Group, which had faced a Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT in 2022. While the Delhi wing struggled through court-mandated resolution attempts, the Kolkata-based corporate shell—which reported a modest revenue of ₹23.9 lakh for the 2024 fiscal year—has now chosen the path of voluntary liquidation under the Insolvency and Bankruptcy Board of India (IBBI) Regulations, 2017.

Final winding down: Claims invited

Mr. Pranab Kumar Chakrabarty has been appointed as the liquidator to oversee the distribution of assets and settlement of remaining liabilities.

• Stakeholder Deadline: All creditors and stakeholders are required to submit proof of their claims by February 4, 2026.
• Submission Protocols: Financial creditors must file their claims electronically, while other stakeholders may submit proofs in person, by post, or electronically.
• Legal Warning: The liquidator has cautioned that any false or misleading claims will attract strict legal penalties.

The End of a Charter Era

At its peak, Dove Airlines operated as a non-scheduled (charter) carrier, providing passenger and cargo services using regional aircraft like the Dornier 228. Despite ambitious mid-career plans to join the government’s UDAN scheme for regional connectivity, the airline remained plagued by financial stress, grounded fleets, and legal disputes with aircraft lessors.

The move to voluntary liquidation suggests that the company’s current directors—including members of the Jalan family—have determined the entity is solvent enough to pay its remaining debts through an orderly asset sale rather than a forced bankruptcy. As the February 4 deadline approaches, the once-hopeful regional player prepares for its final landing, closing a thirty-year legacy of Indian private aviation.

Also See: NCLT approves Rs 420.86 crore resolution plan for Supertech ORB, offers relief to homebuyers