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 ...
SC judgement on Jet Airways places lenders, asset preservation at …
3 days ago · Lenders face steep loses Claims from financial lenders to Jet Airways stood at about Rs 7,800 crore, of which the anticipated recovery was just about 5% of the total amount.The successful resolution applicant for Jet Airways - Jalan-Kalrock Consortium - could only commit about Rs 350 crore. “..the commercial wisdom of the CoC (Committee of Creditors) has achieved paramount status, immune ...
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 ...
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.
Jet Airways liquidation: A wake-up call for India’s insolvency code
Nov 7, 2024 · The Supreme Court ordered Jet Airways into liquidation after finding that the winning bidder for the airline, the Jalan-Kalrock consortium, failed to implement its bankruptcy resolution plan ...
Jet Airways liquidation ordered by Supreme Court amid …
Nov 7, 2024 · Jet Airways to be liquidated, orders Supreme Court saying it has “No Choice” on plea by lenders including SBI seeking to quash NCLAT’s order on handing over the airlines to Jalan-Kalrock ...
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 Supreme Court orders liquidation of Jet Airways
November 07, 2024. Jet Airways, once India‘s second-largest carrier, is to be liquidated, the country’s Supreme Court ruled on Thursday, ending a tumultuous five-year insolvency resolution saga for the bankrupt airline. The Jalan-Kalrock Consortium, the winning bidder, failed to carry out its revival plan and “contravened the terms of the ...
SC verdict on Nov 7 on plea against NCLAT order transferring Jet ...
Nov 6, 2024 · The Supreme Court is set to deliver its verdict on the fate of Jet Airways, following appeals against a decision to transfer ownership to the Jalan Kalrock Consortium. Creditors, including the State Bank of India, challenged the move, citing concerns over the consortium's ability to meet financial obligations outlined in the resolution plan.