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Jet Airways Sale

'No choice': Supreme Court orders liquidation of grounded Jet Airways

Says Jalan-Kalrock Consortium, successful bidder for the airline, failed to implement the resolution plan five years since its approval

'No choice': Supreme Court orders liquidation of grounded Jet Airways
Updated On : 08 Nov 2024 | 12:19 AM IST

SC orders liquidation of Jet Airways, rejects NCLAT's approval of takeover

The Supreme Court has directed the liquidation of Jet Airways, citing the failure of the Jalan-Kalrock Consortium to meet revival conditions, overturning the NCLAT's approval

SC orders liquidation of Jet Airways, rejects NCLAT's approval of takeover
Updated On : 07 Nov 2024 | 1:09 PM IST

NCLAT adjourns Jet Airways hearing to Nov 1 as creditors seek more time

The insolvency appellate tribunal NCLAT on Thursday adjourned its hearing on Jet Airways matter to November 1, as the creditors sought more time to file a reply over the compliance affidavit filed by the Jalan-Kalrock Consortium -- the successful bidder of the grounded carrier. Counsel appearing for the creditors sought more time to complete their pleadings during the proceedings of the National Company Law Appellate Tribunal (INCLAT), which was accepted by a three-member bench. The creditors, which suspect the source of Rs 200 crore paid by the Jalan-Kalrock Consortium, have to file a reply over the compliance affidavit filed by the successful bidder. Last week, Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told NCLAT that there are apprehensions about the source of funds, which deposited the money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be pa

NCLAT adjourns Jet Airways hearing to Nov 1 as creditors seek more time
Updated On : 12 Oct 2023 | 6:59 PM IST

Jet Airways to have best possible app, website among Indian carriers: CEO

Jet Airways will have the best possible app, website and IT systems and services among all Indian carriers without losing the human touch, its CEO Sanjiv Kapoor said on Friday. "Human interaction cannot be fully replaced by technology -- it must always be there as a backup, especially when things go wrong (during irregular operations, etc)," he stated in an email to employees. The airline will announce its aircraft order soon after it receives its air operator certificate (AOC), Kapoor noted. On May 5, Jet Airways conducted its test flight to and from Hyderabad in a step towards obtaining the AOC. The airline in its old avatar was owned by Naresh Goyal and had operated its last flight on April 17, 2019. The Jalan-Kalrock Consortium is currently the promoter of Jet Airways. Kapoor's email, which has been accessed by PTI, said the airline will "very soon conduct" its proving flight, the last step before obtaining the AOC. Proving flights are similar to commercial flight with offici

Jet Airways to have best possible app, website among Indian carriers: CEO
Updated On : 13 May 2022 | 6:52 PM IST

Jalan-Kalrock consortium asked to share resolution plan with Jet's workmen

The Association of Aggrieved Workmen of Jet Airways (India) Ltd had sought a copy of the approved resolution plan and the latest direction from NCLAT has come on a plea filed by the association

Jalan-Kalrock consortium asked to share resolution plan with Jet's workmen
Updated On : 20 Jan 2022 | 11:20 PM IST

Kalorck Capital raises concerns over transparency of Jet resolution process

Kalrock has written to the lenders saying that the bid process should be completed transparently and quickly, pointing to the successful resolution of bankrupt Virgin Australia

Kalorck Capital raises concerns over transparency of Jet resolution process
Updated On : 29 Sep 2020 | 10:38 PM IST

Jet Airways stake sale: Lenders to invite fresh expression of interest

The committee of creditors (CoC) of Jet is likely to come out with a revised EoI for the stake sale in the defunct airline on Wednesday, said a source.

Jet Airways stake sale: Lenders to invite fresh expression of interest
Updated On : 13 May 2020 | 2:50 AM IST

Jet Airways CoC to seek 2-month extension from NCLT for submission of bids

The CoC may seek an extension in the deadline in the face of no potential bidder coming forward and also due to the ongoing coronavirus concerns

Jet Airways CoC to seek 2-month extension from NCLT for submission of bids
Updated On : 13 Mar 2020 | 6:51 AM IST

Jet Airways lenders to seek 90-day extension for resolution process

An extension of up to 90 days may be sought from the National Company Law Tribunal

Jet Airways lenders to seek 90-day extension for resolution process
Updated On : 12 Mar 2020 | 9:14 PM IST

Jet Airways COC extends deadline for submitting resolution to March 9

The meeting took place in the backdrop of two suitors, showing interest in the grounded airline but failing to submit a resolution plan for bid submissions on Monday

Jet Airways COC extends deadline for submitting resolution to March 9
Updated On : 18 Feb 2020 | 9:33 PM IST

Synergy Group gives new expression of interest for beleaguered Jet Airways

In the first round of bidding, Synergy had questions for the civil avaition ministry on availability of slots in the domestic and international routes

Synergy Group gives new expression of interest for beleaguered Jet Airways
Updated On : 08 Jan 2020 | 8:58 PM IST

Billionaire Hinduja brothers set to bid for Jet Airways by Jan 15: Report

Deliberations are at early stage and Hinduja Group may decide against bidding, or other bidders may emerge, the people said

Billionaire Hinduja brothers set to bid for Jet Airways by Jan 15: Report
Updated On : 31 Dec 2019 | 12:53 AM IST

Post NCLT extension, Jet Airways' creditors decide to seek fresh bids

The Committee of Creditors (CoC) would seek fresh Expression of Interest (EoI), according to a regulatory filing on Monday

Post NCLT extension, Jet Airways' creditors decide to seek fresh bids
Updated On : 23 Dec 2019 | 7:27 PM IST

Jet Airways fails to attract new bidders, deadline unlikely to be extended

With no new bidders emerging during this period, there are only three entities that had put in their initial bids earlier

Jet Airways fails to attract new bidders, deadline unlikely to be extended
Updated On : 02 Sep 2019 | 9:38 PM IST

Govt allows airlines to use defunct Jet Airways' slots till year-end

Even after such flying rights are allocated to an airline, it must have slots at both the airports in order to start flight operations

Govt allows airlines to use defunct Jet Airways' slots till year-end
Updated On : 21 Aug 2019 | 2:13 AM IST

Jet lenders may extend Aug 3 deadline for EoIs; 4 parties show interest

Late last month, the resolution professional Ashish Chhawchharia had floated EoIs for selling stake in the airline that stopped flying mid-April

Jet lenders may extend Aug 3 deadline for EoIs; 4 parties show interest
Updated On : 01 Aug 2019 | 10:18 PM IST

Jet Airways interim RP receives claims of over Rs 24,000 crore from lenders

Only claims related to Jet are being considered and those of subsidiary JetLite will not be accepted, IRP says

Jet Airways interim RP receives claims of over Rs 24,000 crore from lenders
Updated On : 19 Jul 2019 | 2:17 AM IST

SBI, PNB may buy other banks' exposure to debt-laden Jet Airways

At least 3 Indian and 1 foreign bank are opposed to the debt-restructuring plan

SBI, PNB may buy other banks' exposure to debt-laden Jet Airways
Updated On : 05 Mar 2019 | 12:41 AM IST

Jet Airways announces special discounted fares starting at Rs 1,111

The booking for tickets under the three-day monsoon season sale begins from Wednesday

Jet Airways announces special discounted fares starting at Rs 1,111
Updated On : 06 Jun 2017 | 10:49 PM IST