The National Company Appellate Tribunal (NCLAT) on Tuesday directed the monitoring committee of Jet Airways to complete the transfer of the airline’s ownership to Jalan Kalrock Consortium (JKC) within 90 days. It also directed JKC to obtain an air operator’s certificate within this period. The tribunal also allowed the adjustment of the performance bank guarantee (PBG) of ₹150 crore towards the first tranche payment of ₹350 crore.
