Tag: Jalan-Kalrock Consortium

No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation

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No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation

Jet Airways was grounded in April 2019 (File). New Delhi: Jet Airways’ assets will be liquidated, the Supreme Court said Thursday afternoon, invoking ‘extraordinary’ powers under Article 142 to set aside a tribunal’s decision to uphold a resolution plan and transfer ownership – to the Jalan-Kalrock Consortium – without full payment to creditors. Article 142…

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Nation

Jet Airways ownership transfer to JKC: Supreme Court reserves verdict on plea against NCLAT order

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Jet Airways ownership transfer to JKC: Supreme Court reserves verdict on plea against NCLAT order

File picture of a Jet Airways aircraft standing on tarmac at the domestic airport terminal in Mumbai. | Photo Credit: Reuters The Supreme Court on Wednesday (October 16, 2024) reserved its judgment on a plea of State Bank of India (SBI) and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld…

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Business

Jet Airlines’ Successful Bidder Will get Extension To Pay off Rs 350 Crore To Lenders

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No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation

Jet Airlines banned flight in April, 2019 (Representational) Pristine Delhi: The Nationwide Corporate Legislation Appellate Tribunal (NCLAT) on Monday prolonged the month until September 30 for the Jalan-Kalrock Consortium to pay Rs 350 crore to the lenders of the now-bankrupt Jet Airlines. A 3-member NCLAT bench authorised the consortium’s request to increase the timeline and…

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