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NCLAT lets JKC pay Jet dues by 30 Sep
Mint Mumbai
|August 29, 2023
The National Company Appellate Tribunal (NCLAT) extended a crucial lifeline to the grounded airline Jet Airways on Monday, offering much-needed relief for its revival prospects. The airline’s successful bidder Jalan Kalrock Capital Consortium (JKC) received an extension till 30 September to settle dues totaling ₹350 crore owed to lenders of the airline.
This adjustment of the performance bank guarantee effectively reduces the total payable amount to just ₹200 crore. The consortium plans to make this payment in two instalments— ₹100 crore by 31 August and another ₹100 crore by 30 September.
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