Tag: Jet Airways resolution

[ad_1] New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Tuesday reserved judgment on a plea by Jet Airways’ owner Jalan Kalrock Consortium (JKC), challenging the sale of the airline’s four aircraft to Malta’s Ace Aviation. JKC had challenged the National Company Law Tribunal (NCLT) order, which permitted the sale, asking the airline’s monitoring committee to proceed with it. During the hearing, counsel for JKC argued that the NCLT’s order was beyond its jurisdiction. JKC disputed the effective date of the resolution plan’s implementation and insisted the sale should be halted until then. Once implemented, the sale process should ... Read more