Supreme Court orders liquidation of bankrupt Jet Airways over …
Nov 7, 2024 · News Business Jet Airways grounded for good as Supreme Court orders liquidation. ... With Jet Airways grounded since 2019 due to financial distress, the court's decision highlights the challenges surrounding corporate recoveries within India’s aviation sector. The court found that JKC had not met the required financial obligations, which ...
Jet Airways revival hopes gone after court orders liquidation
6 days ago · News Jet Airways revival back on track after top tribunal green-lights ownership transfer. 2024-03-13T03:40:00Z By Alfred Chua. Jet Airways has cleared a significant hurdle in its long-running ...
Supreme Court orders liquidation of debt-ridden Jet Airways
Nov 7, 2024 · The NCLAT ruling in March upheld the resolution plan for Jet Airways. It authorised JKC’s takeover and set a 90-day deadline for completing the transfer of ownership.
SC to deliver verdict on Jet Airways plea, set to decide
Nov 6, 2024 · The appellate tribunal further directed the Jet Airways monitoring committee to complete the transfer of ownership within 90 days. Besides, the NCLAT had also directed the lenders of Jet Airways to adjust ₹ 150 crore paid by the consortium as performance bank guarantee (PBG). The SBI, Punjab National Bank (PNB) and JC Flowers Asset Reconstruction Private Limited have challenged the March 12 ...
India’s Top Court Orders Liquidation of Bankrupt Jet Airways
Nov 7, 2024 · Jet Airways, once India‘s second-biggest carrier, is to be liquidated, the country’s Supreme Court ruled Thursday, ending a tumultuous five-year insolvency resolution saga for the bankrupt airline. The Jalan-Kalrock Consortium, the winning bidder, failed to implement its revival plan and “contravened the terms of the resolution plan,” a ...
Jet Airways revival back on track after top tribunal green-lights ...
Mar 12, 2024 · Jet Airways has cleared a significant hurdle in its long-running revival plan, after an appellate tribunal approved the transfer of ownership to the Jalan-Kalrock Consortium, which must be...
Jet Airways ownership transfer to JKC: Supreme Court reserves …
Oct 16, 2024 · The NCLAT on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to the JKC. The appellate tribunal further directed the Jet Airways ...
Tribunal approves Jet Airways ownership transfer to Jalan Kalrock ...
Mar 12, 2024 · The National Company Law Appellate Tribunal (NCLAT) gave its nod for the transfer of ownership of Jet Airways to the Jalan Kalrock Consortium (JKC) on Tuesday, March 12, 2024. The approval comes almost a year after the initial permission was granted in …
Jet Airways moves step closer to revival - Financial Times
Jun 22, 2021 · Collapsed Indian airline Jet Airways moved a step closer to revival on Tuesday when a bankruptcy court gave approval to a resolution plan.
Supreme Court orders liquidation of Jet Airways
3 days ago · 11 Nov 2024 by Yashita Damani. Jet Airways’ assets are set to be liquidated after the Supreme Court invoked its extraordinary powers under Article 142, overturning a tribunal’s decision that ...