Key Points
After the National Company Law Tribunal (NCLT) ruled the case in favour of JKC, it was given 180 days to make payments of Rs 180 crore to the erstwhile creditors of the airline and Rs 250 crore to former employees..
While May 14 is the last date to make the payments, the consortium has made no payments so far.Sanjiv Kapoor..
In a latest setback in the revival process of Jet Airways, its CEO Sanjiv Kapoor has quit the company..
Kapoors resignation comes as impasse between lenders and Jalan-Kalrock consortium remains unresolved even as clock is ticking on the company to make payments and restart operations...
The January 13 order of the NCLT stated that JKC had fulfilled all the conditions precedent mentioned in the resolution plan, which paved the way for transfer of ownership of the airline from the lenders to the winning bidder...
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Jalan Kalrock Consortium seeks more time to pay Rs 350 cr to Jet Airways’ lenders
18, Aug, 23The NCLAT has asked the Jalan Kalrock Consortium to file an application stating the conditions for seeking an extension to make payments to Committee of Creditors of bankrupt airline Jet Airways. The application filed by the State Bank of India, the primary lender, and others pertains to the transfer of ownership of the airline to JKC.
Jet lenders move SC against JKC consortium
09, Oct, 23The new petition contests the NCLAT's order to allow the Jalan-Kalrock Consortium (JKC) to encash a performance bank guarantee of ₹150 crore to pay off dues amounting to ₹350 crore to the lenders
Jet Airways CEO-Designate Sanjiv Kapoor quits
28, Apr, 23India Business News: MUMBAI: A little over a year after coming on board to revive Jet Airways, the airline's CEO-Designate Sanjiv Kapoor has put in his papers.
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27, Apr, 23In the past week, senior employees such as the company secretary, accountable manager and chief security officer have quit the grounded airline.
Jet Airways' new promoter pumps in ₹100 crore for reviving grounded airline
31, Aug, 23Jalan-Kalrock Consortium had emerged as the winning bidder for the Jet Airways under the insolvency resolution process.