Major shareholders hiring law firms indicate the possibility of the dispute reaching the tribunal.
Jet is currently 51% owned by Naresh Goyal. Etihad owns 24% and the rest is with the public.
Not just did Etihad Airways invest money in Jet Airways in 2013, they also bought out 50.1 percent of the JetPrivilege frequent flyer programme.
The other immediate option would be to offload Tata Consultancy Services (TCS) shares as has been done before.
British entrepreneur Jason Unsworth and Adi Gro aviation are also understood to have put in unsolicited bids.
In the fourth quarter, the IT firm signed 17 new deals and added two more customers in the $100 million customer category.
The probe threatens to intensify woes for Jet Airways, which suspended services on 17 April amid a cash crunch and over $1 billion in debt.
The RoC investigation was initiated last August after the company deferred its first-quarter FY19 results the same month.
A bench headed by Justice S A Bobde stayed the imposition of fine for the time being against the multinational automobile company.
The company was initially established to enable Ola’s electric mobility pilot program in Nagpur.