Jet Airways resolution: SC asks Jalan Kalrock Consortium to deposit Rs 150 cr before Jan 31
The Supreme Court set aside an order of the National Company Law Appellate Tribunal that allowed the Jalan Kalrock Consortium to pay the amount of Rs 150 crore through its performance guarantee deposited in the insolvency process of cash-strapped carrier Jet Airways.
The SC has asked the Jalan-Kalrock consortium to deposit Rs 150 crore on or before January 31, 2024, with the State Bank of India escrow account, failing it may be treated as non-compliant with the resolution plan for the takeover of Jet Airways.
