Kalrock-Jalan consortium gets 2 months more to meet Jet revival plan terms

The National Company Law Tribunal gave more time to ensure the revival of the grounded airline.

The Kalrock Jalan consortium has got 65 days more to fulfill conditions required for implementation of Jet Airways revival plan.

The National Company Law Tribunal has granted the extra time to ensure revival of the grounded airline. The tribunal passed the order on a plea by the consortium for exclusion of a certain number of days from implementation timeline.

“We find that if the relief as sought is refused it will cause a hurdle in the revival of corporate debtor (Jet Airways) which cannot be in the spirit of the Code. If no exclusion is granted it will also amount