The Supreme Court of India has ordered Jet Airways' liquidation, rejecting a prior ownership transfer plan.

The Supreme Court of India has ordered the liquidation of Jet Airways, overturning a prior decision by the National Company Law Appellate Tribunal (NCLAT) that approved a resolution plan and ownership transfer to the Jalan Kalrock Consortium (JKC). The court deemed the resolution plan unviable, stating liquidation is in the best interest of creditors and stakeholders. This ruling follows Jet Airways' grounding in 2019 due to financial troubles.

November 06, 2024
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