Jet Airways CoC says NCLAT may withdraw petition if JKC pays Rs 350 crore

The Committee of Creditors of grounded airline Jet Airways Thursday said it may not pursue its appeal filed before the National Company Law Appellate Tribunal on receipt of Rs 350 crore from Jet Airways’ bidder Jalan Kalrock Consortium.

“Once they deposit Rs 350 crore, we may not be inclined to go ahead with the appeal,” the counsel informed the appellate tribunal, stating that “we also want the plan to work.”