NEW DELHI: The committee of Creditors (CoC) of Jet Airways on Monday asked the Jalan Kalrock Consortium to pay Rs 350 crore and said they may not pursue the appeal for transfer of ownership if the said amount is paid. This was told in a hearing at NCLAT.
Last month, the Jalan-Kalrock consortium, the successful bidder of the grounded Jet Airways, had asked the National Company Law Appellate Tribunal (NCLAT) about the transfer of ownership of the grounded airline. They had said that the lenders are not permitting them to start operations even though they had obtained all the requisite permissions from the government.
The NCLAT asked CoC to file an affidavit detailing their contentions. The case is likely to come up for a hearing on August 18. On July 10, the committee of creditors of Jet Airways on July 10 told the Supreme Court that the Jalan-Kalrock resolution plan approved by the National Company Law Tribunal (NCLT) is not working and called for the liquidation of the grounded airline.
This came after the NCLAT on May 26 granted the JKC a 97 days extension to pay a guarantee of Rs 150 core to the State Bank of India (SBI). Jet Airways has been grounded for over four years now and the resolution plan of JKC was admitted in June 2021.
The CoC had earlier told the court it had spent Rs 470 crore since the implementation of the Corporate Insolvency Resolution Process (CIRP), without getting any return on investment. The creditors said they were incurring Rs 23 crore in expenses every month.
Go First's plea against Delhi HC order rejected
The Supreme Court on Monday rejected Go First’s petition against the Delhi High Court order allowing lessors of the airline to inspect the aircraft they had lent to the crisis-hit airline.
The court allowed lessors to own the aircraft and added that as the matter is pending before a single bench of the Delhi HC, it will not interfere in the case. The bench said that the single judge will also decide the jurisdictional issues.
Earlier, a single-member bench of the HC had allowed the lessors of Go First to access and inspect the planes. The order was later upheld by the division bench of the high court. Following this, the crisis-hit airline moved the apex court. ENS