The State Bank of India on Monday said the order of the National Company Law Appellate Tribunal (NCLAT) upholding the transfer of grounded airline Jet Airways’ ownership to Jalan Kalrock Consortium (JKC) is ‘shocking’ and ‘completely unacceptable’.
“It is a shocking order and is completely unacceptable. It reverses a Supreme Court ruling on the Rs 150 crore bank guarantee. We are supposed to collect Rs 4,400 crore; they are struggling to repay Rs 300 crore now,” Additional Solicitor General (ASG) Venkatraman, appearing for SBI, told the Supreme Court.
