JET AIRWAYS INSOLVENCY: SUPREME COURT WILL GIVE AN IMPORTANT IN INDIA

Description Jet Airways News– On March 12, NCLAT had upheld the resolution plan of the defunct Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). The Supreme Court will on Wednesday (October 16) pronounce its verdict on a petition filed by lenders of cash-strapped Jet Airways challenging the NCLAT order allowing the transfer of ownership of the airlines to the successful resolution applicant (SRA). The hearing on the petition filed by State Bank of India (SBI) and other lenders was completed on October 16 and a bench of Chief Justice of India DY Chandrachud, Justice JB Pardiwala and Justice Manoj Mishra reserved the verdict. The petition challenges the decision of the National Company Law Appellate Tribunal (NCLAT), which upheld the resolution plan of Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC).