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Jet Airways asked to pay 350 crore to creditors by 31 Aug
Mint Mumbai
|August 08, 2023
Jet Airways' new management has to pay ₹350 crore to the Committee of Creditors (CoC), the National Company Law Appellate Tribunal (NCLAT) was informed on Monday
The Jalan Kalrock Consortium (JKC) has to pay ₹350 crore before 31 August as a condition precedent. The next hearing is on 18 August.
Additional solicitor general N.Venkatraman, representing the lenders submitted that CoC may not pursue the plea and oppose the transfer of the ownership if the amount is paid. The court has given two weeks' time for the CoC to file an affidavit.
Krishnendu Dutta, senior lawyer for JKC, stated that they will do their best to pay the amount on the given date.
The plea was filed by State Bank of India against Jet Airways bidder JKC to recover pending dues.
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