![[Jet Airways] "Creditors Delayed Resolution Process By Raising Pleas At Every Stage": Winning Bidder Tells SC](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/10/bsfbsf.jpg?resize=447%2C367&ssl=1)
Jalan Kalrock Consortium (JKC), which was handed over the grounded air carrier Jet Airways, on Tuesday (Oct 15) informed the Supreme Court that the creditors had delayed the resolution process by raising pleas at every stage of compliance. The National Company Law Appellate Tribunal (NCLAT) on March 12 had upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to the consortium.
Today,22nd April, The Supreme Court issued notice to Jet Airways and the Jalan Kalrock Consortium following a petition by the State Bank of India challenging the NCLAT’s decision regarding the airline’s ownership transfer. The case reflects complex legal and financial dilemmas in India’s aviation sector. The SBI cited outstanding payments and non-compliance with NCLAT’s orders, emphasizing the intricate nature of the proceedings.
