Lenders of Jet Airways question source of revival infusion by JKC

The lenders to Jet Airways on Wednesday questioned the source of funds used by Jalan Kalrock Consortium (JKC), the successful bidder for the troubled airline, to repay a part of the Rs 350 crore dues, saying the payment was not in compliance with the resolution plan and the money could have been “laundered”.

Additional Solicitor General (ASG) N Venkatraman, representing the lenders led by State Bank of India (SBI) in the National Company Law Appellate Tribunal (NCLAT), said the source accounts from which the payments were made were questionable. “Till now they (JKC) were taking us for a ride, now they are taking this court for a ride,” the ASG said.