The National Company Law Appellate Tribunal (NCLAT) on Monday reserved its order on Jalan-Kalrock Consortium’s plea seeking more time to make payments to the lenders of the bankrupt Jet Airways. The consortium had emerged as the winning bidder for the airline, which stopped flying in April 2019 and later underwent an insolvency resolution process.
The consortium is to pay Rs 350 crore to the lenders by August 31 but has sought an extension for making the payment.
A three-member NCLAT bench said it will pass the order on next Monday and has granted three days’ time to the parties to file their written submissions.
