New Delhi, May 26
Appellate tribunal NCLAT on Friday pitched for early revival of the grounded Jet Airways and decided to give more time to the winning bidder Jalan Kalrock Consortium to fulfil payment obligations and directed the lenders not to encash the performance bank guarantee of Rs 175 crore furnished by the consortium.
In a relief for the consortium, NCLAT extended the timeline for payment obligation by excluding the time period between November 16, 2022 and March 3, 2023 — the time period when it was hearing the petition filed by lenders.
It has also allowed the lenders’ plea for appointment to the Board of Directors of Jet Airways.
Most Read In 24 Hours
Don't MissView All
‘Root cause of accident and people responsible for it have been identified’, Railway Minister on Odisha train tragedy
Ashwini Vaishnaw said the focus right now is on the restorat...
Odisha train accident: Team of doctors from AIIMS Delhi, other central hospitals rushed to provide medical aid to injured
The team is carrying medicines and heavy critical care equip...
‘Our family is devastated’: 3 brothers from West Bengal lose lives in Odisha train accident
Were travelling from Bengal's South 24 Parganas district to ...
Former J-K CM Mehbooba Mufti issued passport after three years
The passport given to Mehbooba is valid till May 31, 2033
Elon Musk’s ‘desi’ look in AI-generated pictures goes viral, see his reaction
Taking to Twitter, Musk wrote, "I Love It," followed by Indi...