Jet Airways revival: Lenders likely to give JKC an extension to pay dues

On Monday, however, the lenders argued that the Performance Bank Guarantee of Rs 150 crore is a backup and cannot be invoked at this stage

The lenders of Jet Airways said on Monday that they may agree to extend the deadline for Jalan Kalrock Consortium (JKC), the successful bidder for the airline, to pay dues of Rs 350 crore until the end of September.

The National Company Law Appellate Tribunal (NCLAT) has reserved its order on an application by JKC seeking an extension for payment to the lenders.

Initially, the payment date was set for August 31, but JKC has now requested an extension. The appellate tribunal had previously instructed JKC to file an application with a revised payment schedule within 24 hours during the