NCLAT reserves order in Jet Airways ownership transfer case
NEW DELHI: National Company Law Appellate Tribunal (NCLAT), Thursday, reserved its order in the plea filed by State Bank of India-led consortium of lender’s against Jalan-Kalrock consortium (JKC), the successful bidder for the grounded Jet Airways. JKC and SBI-led Consortium have blamed each other for not letting the airline take off. The senior counsel for JKC claimed that they have met all the pre-conditions stated in the resolution plan (RP) for the monitoring committee of Airways to transfer the ownership. The lenders argued that JKC has fallen short of even fulfilling its basic obligation under the resolution plan of infusing Rs 350 crore as first tranche of payment.
