Jalan-Kalrock consortium gets six more months from NCLT to pay & take control of Jet Airways

The Jalan-Kalrock consortium gets six months more from the National Company Law Tribunal (NCLT) to make payment and take effective control of Jet Airways.

NCLT had set November 16, 2022 as an effective date for the consortium to clear dues of Various creditors.

SBI & other lenders had opposed any extension to the process.

The consortium has asked Ashish Chhawcharia, the airline monitoring committee's authorised representative, not to issue any communication on behalf of the grounded carrier without approval of all the members of the committee.

Amid the continuing uncertainty over the fate of Jet Airways, which shuttered operations in April 2019, the consortium wrote a letter to Chhawcharia.

In the letter, the consortium has also sought a copy of the relevant minutes of the MC meetings in which the matter of CEO-designate Sanjiv Kapoor was "discussed and deliberated".

The airline's Committee of Creditors (CoC) approved the revival plan in October 2020 submitted by the consortium of Dubai-based Murari Lal Jalan and the UK's Kalrock Capital.

In June 2021, the consortium's bid was approved under the insolvency resolution process.