‘Jet Airways is back’: NCLT clears Jalan Kalrock Consortium’s resolution plan for airlines
NEW DELHI: The National Company Law Tribunal (NCLT) has given approval to the Kalrock Capital and Murari Lal Jalan consortium’s bid for Jet Airways, eight months after the lenders had given a go ahead to its resolution plan.
According to the resolution plan of Kalrock Capital and UAE-based NRI Murari Lal Jalan, which was approved by the Committee of Creditors in October 2020 by 97% vote share, around Rs 1,100 would be paid in tranches in five years. The resolution professional of Jet Airways – Ashish Chhawchharia – had received claims of Rs 44,000 crore out of which he admitted claims of around Rs 15,400 crore.
