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National Company Law Tribunal approves resolution plan for Jet Airways

National Company Law Tribunal approves resolution plan for Jet Airways
NCLT has given the new owners 90 days to approach the directorate-general of civil aviation (DGCA) for the restoration of the airline slots
The National Company Law Tribunal (NCLT) on Tuesday approved the resolution plan for Jet Airways submitted by a consortium of UK-based Kalrock Capital Partners and Murari Lal Jalan.
While London-based Kalrock is an alternative investment fund, UAE-based Jalan has a Calcutta background. He began his career in the 1980s in his family’s paper trading business in the city before shifting to Dubai.
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The resolution plan has been approved with a caveat. The tribunal has given the new owners 90 days to approach the directorate-general of civil aviation (DGCA) for the restoration of the airline slots. ....

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Jet Airways: Meet The Airlines' New Owners

Jet Airways: Meet The Airlines New Owners
Jun 22 2021, 5:00 PM
June 22 2021, 4:59 PM
June 22 2021, 5:00 PM
After a resolution process lasting nearly 24 months, insolvent Jet Airways (India) Ltd. has found a buyer.On Tuesday, a consortium of U.K.-based Kalrock Capital Partners and Murari Lal Jalan was approved as successful resolution applicant for the beleaguered airline, by the National Company Law Tribunal. In its order the tribunal asked the government to decide on giving slots to Jet Airways in a way which does not make the resolution.
After a resolution process lasting nearly 24 months, insolvent Jet Airways (India) Ltd. has found a buyer. ....

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