The CBI arrested Charan Pratap Singh, Deputy Registrar of NCLT Mumbai, and his associate Karsan Ganesh Ahir for allegedly accepting a Rs. 3 lakh bribe from a hotel owner to influence a long-standing legal case. The operation revealed potential wider corruption within the NCLT registry, prompting further investigation.
The CBI will investigate allegations of bribery involving lawyers seeking a favourable NCLT order. A firm’s director filed a complaint against Mahi Bhat and Akshat Ketan, the proprietor of AU Corporate Advisory and Legal Services. They allegedly demanded a bribe in exchange for securing a favorable ruling. The case is now under CBI scrutiny.
The Supreme Court of India, led by CJI DY Chandrachud, ordered the liquidation of Jet Airways, overturning the NCLAT’s approval of its ownership transfer to the Jalan Kalrock Consortium. The Court revealed that the consortium failed to meet financial obligations, prompting immediate liquidation and forfeiture of bank guarantees to protect creditors’ interests.
Yesterday, On 9th May, The Jet Airways lenders are dissatisfied with the resolution plan, citing concerns about its effectiveness. The National Company Law Appellate Tribunal’s decision to transfer ownership to the successful bidder, Jalan Kalrock Consortium (JKC), within 90 days has incurred objections. JKC’s ability to fulfill financial obligations and revive the airline is under scrutiny amidst legal disputes.
