Jet Airways case: SC deals blow to JKC, orders Rs 150 crore bank guarantee
In a major blow to Jalan Kalrock Consortium (JKC), the successful resolution professional of the grounded airline Jet Airways, the Supreme Court (SC) on Thursday directed it to furnish a performance bank guarantee of Rs 150 crore by January 31, reported Moneycontrol.
The SC ruled that if JKC fails to furnish the bank guarantee, legal penalties will follow. The National Company Law Appellate Tribunal (NCLAT) will now have to decide the appeal by the State Bank of India (SBI) contesting the transfer of Jet Airways’ ownership to JKC by the end of March 2024.
