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Pay ₹150 cr or face consequences, SC tells Jet winner JKC
Mint Mumbai
|January 19, 2024
The tortured rescue of bankrupt Jet Airways took a crucial turn on Thursday, with the Supreme Court asking winning bidder Jalan Kalrock Consortium (JKC) to pay ₹150 crore by 31 January, or face "serious consequences".
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A failure to pay would jeopardize JKC's approved resolution plan, potentially forcing it to come up with a new one or leave the ownership claim. This could further worsen any possibility of Jet Airways' revival, and push the airline into liquidation.
This is set to further delay the return of Jet Airways, which went through a bankruptcy process that was concluded in June 2021 and led to the selection of JKC as its new owner.
This story is from the January 19, 2024 edition of Mint Mumbai.
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