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Jet liquidation flight rostered as SC claims there's no alternative
The Morning Standard
|November 08, 2024
Orders forfeiture of Jalan-Kalrock consortium's ₹200 cr
The Supreme Court on Thursday dashed all hopes of a revival of Jet Airways as it ordered liquidation of the firm, which had been undergoing the insolvency resolution process for over five years.
A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra set aside the National Company Law Appellate Tribunal (NCLAT) ruling that upheld the transfer of the airline's ownership to Jalan Kalrock Consortium (JKC).
The bench stated that the liquidation was in the interest of creditors, workers, and other stakeholders of Jet Airways.
The court noted JKC's failure to infuse the promised funds of ₹350 crore to revive the cash-strapped airline.
Diese Geschichte stammt aus der November 08, 2024-Ausgabe von The Morning Standard.
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