NCLAT upheld Jet Airways' ownership transfer to Jalan Kalrock Consortium, directing completion within 90 days.
The National Company Law Appellate Tribunal (NCLAT) upheld the transfer of Jet Airways' ownership to the Jalan Kalrock Consortium, paving the way for an early resumption of flight operations. NCLAT directed lenders to complete the transfer within 90 days and asked JKC to secure an air operator's certificate during this time frame. The decision follows the NCLT's approval of the ownership transfer to JKC in January last year.
March 12, 2024
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