Start winding-up process for Jet Airways: Lenders tell Supreme Court

Jet Airways lenders on Monday urged the Supreme Court to initiate the winding-up process for the grounded airline, asserting that the approved resolution plan by the National Company Law Tribunal (NCLT) was unfeasible.

Representing the Committee of Creditors (CoC), Additional Solicitor General N Venkatraman informed the apex court that the Jalan-Kalrock Consortium — the successful bidder for the airline — had not infused any funds into the company. Furthermore, he stated the Directorate General of Civil Aviation (DGCA) was not inclined to renew Jet Airways’ air operator’s certificate (AOC), which expired in May.