Highlights

  • NCLAT grants 97 days extension Jalan Kalrock Consortium to pay dues to SBI
  • NCLAT prevents SBI from invoking its ₹150-crore performance bank guarantee over unpaid dues

Latest news

Sriram Raghavan, Dibakar Banerjee, other filmmakers onboard to judge films at MAMI Mumbai Film Festival 2026

Sriram Raghavan, Dibakar Banerjee, other filmmakers onboard to judge films at MAMI Mumbai Film Festival 2026

Gold should now be seen more as an "insurance policy", SIP route advisable at current levels: Analysts

Gold should now be seen more as an "insurance policy", SIP route advisable at current levels: Analysts

AAP MLA Hemant Khava flags poor road conditions, questions toll tax usage in Gujarat

AAP MLA Hemant Khava flags poor road conditions, questions toll tax usage in Gujarat

AAP calls Punjab district panchayat win historic, eyes Gujarat local body polls

AAP calls Punjab district panchayat win historic, eyes Gujarat local body polls

Gujarat AAP MLA Chaitar Vasava questions police action against tribal villagers in Banaskantha

Gujarat AAP MLA Chaitar Vasava questions police action against tribal villagers in Banaskantha

Sitharaman introduced Securities Markets Code Bill in Lok Sabha, proposes to send it to parliamentary committee

Sitharaman introduced Securities Markets Code Bill in Lok Sabha, proposes to send it to parliamentary committee

OnePlus 15R review: A clear shift in what the R-series stands for

OnePlus 15R review: A clear shift in what the R-series stands for

PM Modi departs for Oman on last leg of three-nation visit

PM Modi departs for Oman on last leg of three-nation visit

Jet Airways crisis: Bidder Jalan Kalrock Consortium gets 97 more days to pay dues to SBI

Jalan Kalrock Consortium had moved the NCLAT to prevent SBI from invoking its ₹150-crore performance bank guarantee over unpaid dues

Jet Airways crisis: Bidder Jalan Kalrock Consortium gets 97 more days to pay dues to SBI

The National Company Law Appellate Tribunal (NCLAT) has given Jalan Kalrock Consortium an extension of 97 days to pay dues to SBI. Jalan Kalrock Consortium (JKC) emerged as the successful bidder of Jet Airways.

JKC had moved the NCLAT to prevent SBI from invoking its ₹150-crore performance bank guarantee over unpaid dues. SBI leads the group of lenders. JKC had earlier expressed interest to restart operations of Jet Airways.

Meanwhile, the validity of Jet Airways' Air Operator's Certificate expired last week. Jet Airways stopped operating on April 18, 2019 after flying for 25 years. The insolvency proceedings against the airline started in June 2019. The NCLT approved the resolution plan by the consortium in June 2021.

ADVERTISEMENT

Up Next

Jet Airways crisis: Bidder Jalan Kalrock Consortium gets 97 more days to pay dues to SBI

Jet Airways crisis: Bidder Jalan Kalrock Consortium gets 97 more days to pay dues to SBI

Rupee breaches 91-mark against US dollar for first time in intra-day trade

Rupee breaches 91-mark against US dollar for first time in intra-day trade

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

RBI raises FY26 GDP growth projection to 7.3 pc

RBI raises FY26 GDP growth projection to 7.3 pc

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper

ADVERTISEMENT

editorji-whatsApp

More videos

Rupee slumps to all-time low of 90.25 against US dollar in intra-day trade

Rupee slumps to all-time low of 90.25 against US dollar in intra-day trade

Reliance completes merger of Star Television Productions with Jiostar

Reliance completes merger of Star Television Productions with Jiostar

India to lead emerging market growth with 7pc GDP rise in 2025: Moody’s

India to lead emerging market growth with 7pc GDP rise in 2025: Moody’s

Nifty hits record high after 14 months; Sensex nears all-time peak

Nifty hits record high after 14 months; Sensex nears all-time peak

Reliance stops Russian oil use at its only-for-export refinery to comply with EU sanctions

Reliance stops Russian oil use at its only-for-export refinery to comply with EU sanctions

ED attaches fresh assets worth over Rs 1,400 cr in case against Anil Ambani's Reliance Group

ED attaches fresh assets worth over Rs 1,400 cr in case against Anil Ambani's Reliance Group

India signs one-year deal to import 2.2 million tonnes of LPG from US

India signs one-year deal to import 2.2 million tonnes of LPG from US

India International Trade Fair begins at Pragati Maidan amid tight security

India International Trade Fair begins at Pragati Maidan amid tight security

Stock markets decline in initial trade on foreign fund outflows, weak Asian peers

Stock markets decline in initial trade on foreign fund outflows, weak Asian peers

Amazon to lay off 30,000 office workers amid AI-driven cost cuts

Amazon to lay off 30,000 office workers amid AI-driven cost cuts

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.