The National Company Law Tribunal (NCLT) on Tuesday approved the Jalan Kalrock Consortium’s resolution plan for the bankrupt-Jet Airways, two years after the once-storied airline went into insolvency proceedings.
Financial distress forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders, led by the SBI, filed an insolvency petition in June 2019, to recover outstanding dues worth over Rs 8,000 crore.
