Jet Airways’ fate in jeopardy as NCLT deadline for Jalan-Kalrock nears
The clock is ticking for Jalan-Kalrock Consortium (JKC) as its 180-day deadline to pay off the creditors and employees of the grounded erstwhile Jet Airways is now less than four weeks away.
National Company Law Tribunal (NCLT) had given the consortium of Dubai-based entrepreneur Murari Lal Jalan and the UK’s Kalrock Capital six months from when the resolution plan had come into effect (November 16, 2022) to settle the dues.
In addition to payments, JKC owes Rs 185 crore to the lenders of Jet Airways. The consortium is also to pay an estimated amount of Rs 250 crore to the airline’s former employees by May 14.
