Implementation of Jet resolution plan subject to outcome of order: NCLAT

Insolvency appellate tribunal NCLAT on Monday said the implementation of Jalan-Kalrock consortium resolution plan for Jet Airways would be subject to the outcome of its order over the appeals filed before it.

While hearing a batch of petitions against the NCLT order approving Jet Airways’ resolution plan, a two-member bench of National Company Law Appellate Tribunal (NCLAT) said they would have to abide by the results of the appeals filed before it.

“We fix these Appeals on July 5, 2022 and make it clear that implementation of the resolution plan shall abide by the result of these Appeals,” said NCLAT bench headed by Chairperson Justice Ashok Bhushan.