The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra said the insolvency appellate tribunal NCLAT was not correct in permitting adjustment of Rs 150 crore from the performance bank guarantee (PBG) towards payment of Rs 350 crore by the consortium to the lenders led by the State Bank of India. The amount was to be deposited in…
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Category: Jet Airways
SC orders Jet’s new owners to deposit Rs 150 crore
NEW DELHI: Supreme Court on Thursday ordered the Jalan-Kalrock consortium, whose Rs 4,783 crore financial package for revival of bankrupt Jet Airways has been approved, to deposit Rs 150 crore by Jan 31 to keep the resolution plan afloat, despite the lenders in SBI-led banking consortium accusing the foreign entity of lacking in intent to implement the airline’s revival plan.Under the agreed reworked payment schedule for the first tranche of Rs 350 crore, the National Company Law Appellate…
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SC asks Jalan-Kalrock Consortium to deposit Rs 150 crore in SBI escrow account within 2 weeks
New Delhi, Jan 18 (IANS) The Supreme Court on Thursday ordered Jalan Kalrock Consortium (JKC) – the successful resolution professional bidder for cash-strapped Jet Airways – to deposit an amount of Rs 150 crore within a period of two weeks. Advertising AdvertisingA bench, headed by CJI D.Y. Chandrachud said that this amount will be kept in an escrow account jointly held by the State Bank of India and JKC. The bench, also comprising Justices JB Pardiwala and Manoj…
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Top Court Asks Jalan-Kalrock Consortium To Deposit Rs 150 Crore By Month-End
The Supreme Court on Thursday directed the Jalan-Kalrock Consortium to deposit Rs 150 crore in an SBI escrow account by Jan. 31, failing which the consortium will be treated as being non-compliant with its resolution plan for the grounded airline Jet Airways Ltd.The top court’s order comes against the backdrop of JKC’s decision to pay its first tranche of Rs 350 crore through different payment methods.The consortium had deposited Rs 200 crore towards the lenders led by SBI by the end of…
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Jet Airways revival plan has hit air pocket, SBI-led lenders tell Supreme Court
NEW DELHI: The plan to revive bankrupt Jet Airways appeared in choppy waters as financial creditors led by SBI told Supreme Court on Wednesday that Jalan-Kalrock consortium, the successful bidder, had “not brought a farthing” till date and was trying to rewrite the revival scheme.On behalf of SBI-led lenders, solicitor general Tushar Mehta told a bench of CJI D Y Chandrachud and Justices J B Pardiwala and Manoj Misra, “The total admitted claim of the financial creditors is Rs 7,800 crore but…
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Jet Airways rescue plan unworkable, say lenders
The Jalan-Kalrock Consortium (JKC) has not met various pre-conditions to take over Jet Airways, lenders to the bankrupt airline said, adding its rescue plan is unworkable and liable to be set aside.
The lenders voiced their disapproval during a Supreme Court hearing on several appeals challenging…
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SC asks Jet Airways of details of spending on PF, gratuity dues of employees
New Delhi: The Supreme Court on Wednesday asked the Jalan-Kalrock consortium, the new owners of cash-strapped Jet Airways, how much have they paid towards dues on account of provident fund and gratuity to the former employees of the troubled airline.
The top court made the query while commencing the hearing on a batch of petitions, including the one filed by the Jet Aircraft Maintenance Engineers Welfare Association, against the October 21, 2022 order of the…
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Owners of India’s Jet Airways to lodge Supreme Court appeal
The Kalrock Capital-Murari Lal Jalan consortium is likely to lodge a Supreme Court appeal against a December 6, 2022, decision by India’s National Company Law Appellate Tribunal (NCLAT) directing it to settle unpaid provident fund and gratuity dues of employees of Jet Airways (JAI, Mumbai International), according to local news reports.
The NCLAT also dismissed an appeal by the consortium known as Jalan-Kalrock (JKC) – which won the bid to revive…
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Source: https://www.ch-aviation.com/news/122336-owners-of-indias-jet-airways-to-lodge-supreme-court-appeal
Jet Airways founder Naresh Goyal steps out of jail to visit ailing wife – India Today
Jet Airways founder Naresh Goyal steps out of jail to visit ailing wife India Today
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Why is Naresh Goyal Trending in Google Trends on January, 07 2024: Check Latest News on Naresh Goyal Today from Google and – LatestLY
Why is Naresh Goyal Trending in Google Trends on January, 07 2024: Check Latest News on Naresh Goyal Today from Google and LatestLY
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Source: https://www.latestly.com/google-trends/07012024/naresh-goyal/