The National Company Law Tribunal (NCLT) on Friday allowed the Jalan-Kalrock Consortium (JKC) — the winning bidder — to take over Jet Airways.
The Mumbai bench of the tribunal also gave the consortium six months’ time beyond November 16, 2022 to make payments to lenders. With this, the consortium will have time till mid-May 2023 to make payments to all the creditors and employees.
The counsel for the lenders Rohan Rajadhyaksha had sought a two-week stay on the order but the plea was rejected by the tribunal.
