Key Points
The Supreme Court has asked the Jalan-Kalrock consortium to deposit Rs 150 crore on or before January 31, 2024, with the State Bank of India escrow account, failing it may be treated as non-compliant with the resolution plan for the takeover of Jet Airways...
The apex court also directed that PBG of Rs 150 crore shall continue to remain in operation till the National Company Law Tribunal (NCLT) decides the petitions...
The SC said that the National Company Law Appellate Tribunal (NCLAT) should decide whether the successful resolution applicant has complied with all conditions in the resolution plan...
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