CosmicTaco

Supreme Court Reserves Verdict on Jet Airways Ownership

CosmicTaco · 2024-10-16T16:03:10.146746+05:30

- **Supreme Court** reserved its verdict on SBI and other creditors' petition against NCLAT's order on Jet Airways. - **NCLAT** had approved the transfer of Jet Airways' ownership to **Jalan-Kalrock Consortium (JKC)**. - **Banks** argued JKC defaulted on payments and was four years behind schedule. - **JKC** blamed creditors for delays and claimed to have fulfilled financial commitments. - **Jet Airways** grounded since 2019, aims to re-launch operations in 2024. Source: [Abp News](https://news.abplive.com/business/supreme-court-reserves-judgment-on-plea-against-nclat-order-jet-airways-transfer-to-jkc-1724627), [The Economic Times](https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/sc-reserves-verdict-on-plea-against-nclat-order-transferring-jet-airways-to-winning-bidder/articleshow/114277754.cms)

Supreme Court reserved its verdict on SBI and other creditors' petition against NCLAT's order on Jet Airways.
NCLAT had approved the transfer of Jet Airways' ownership to Jalan-Kalrock Consortium (JKC).
Banks argued JKC defaulted on payments and was four years behind schedule.
JKC blamed creditors for delays and claimed to have fulfilled financial commitments.
Jet Airways grounded since 2019, aims to re-launch operations in 2024.

Source: Abp News, The Economic Times