Supreme Court advances reforms in IBC amid Jet Airways liquidation, ET LegalWorld
The Supreme Court in the matter of Jet Airways liquidation has outlined policy reforms in the Insolvency and Bankruptcy Code, 2016. The court termed the matter was an, “an eye-opener,” considering the importance of IBC. The nature of IBC suggests that the insolvency ecosystem be continuously strengthened through a regular identification of its shortcomings and […]
Why did the Supreme Court choose liquidation over resolution for Jet Airways?, ET LegalWorld
The Supreme Court has held that where there exists extraordinary circumstances warranting the exercise of plenary powers to ensure that the very salutary purpose of the Insolvency and Bankruptcy Code, 2016 is not frustrated, then the Court would be well within its prerogative to exercise them to secure the object of the IBC, 2016. The […]
Bombay HC grants bail to Jet Airways founder Naresh Goyal on medical grounds, ET LegalWorld
The Bombay High Court on Monday granted bail, on medical grounds, to Jet Airways founder Naresh Goyal in a money laundering case filed by the Enforcement Directorate. The 75-year-old former Jet Airways chairman is suffering from cancer and has sought bail in the case to undergo treatment. Goyal had earlier been granted “interim bail” on […]
Jet Airways founder Naresh Goyal gets medical bail, ET LegalWorld
The Bombay High Court on Monday granted medical bail to Jet Airways founder Naresh Goyal, who is an accused in a money laundering case. In May this year, a single bench of Justice N J Jamadar granted interim bail to Goyal on medical grounds. Justice Jamadar on Monday made the interim order permanent. Goyal (75) […]
Supreme Court overturns NCLAT ruling; orders liquidation of Jet Airways, ET LegalWorld
Supreme Court sets aside the National Company Law Appellate Tribunal (NCLAT) ruling that upheld the transfer of Jet Airways ownership to the Jalan-Kalrock Consortium (JKC) without complete payment in accordance with the resolution plan under an approved resolution plan. Allowing the appeal filed by State Bank of India (SBI) and other creditors, The Supreme Court […]
SC to pronounce judgment today on Jet Airways ownership, Legal News, ET LegalWorld
The Supreme Court is set to pronounce its judgment on Thursday on lenders’ plea challenging the transfer of ownership of grounded Jet Airways to Jalan Kalrock Consortium (JKC). According to the cause list published on the apex court’s website, a bench of CJI DY Chandrachud and Justices JB Pardiwala and Manoj Misra will pronounce the […]
SC verdict on Nov 7 on plea against NCLAT order transferring Jet Airways to winning bidder, ET LegalWorld
The Supreme Court is scheduled to pronounce its verdict on Thursday on a plea of State Bank of India (SBI) and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of grounded air carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). […]
Rescind Jet Airways resolution plan, order liquidation, SBI tells SC, ET LegalWorld
The Supreme Court on Wednesday reserved verdict on the plea of SBI-led lenders’ consortium seeking scraping of the three-year-old Rs 4,783 crore resolution plan of Murari Jalan-Florian Fristch for revival of bankrupt Jet Airways under IBC on the ground that the successful resolution applicant has failed to deposit even the first tranche of Rs 350 […]
SC reserves verdict on plea against NCLAT order transferring Jet Airways to winning bidder, ET LegalWorld
The Supreme Court on Wednesday reserved its judgement on a plea of State Bank of India and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of grounded air carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). A bench comprising Chief […]
Creditors delayed resolution process for Jet Airways, winning bidder tells SC, ET LegalWorld
Jalan Kalrock Consortium (JKC), which was handed over the grounded air carrier Jet Airways, on Tuesday informed the Supreme Court that the creditors had delayed the resolution process by raising pleas at every stage of compliance. The National Company Law Appellate Tribunal (NCLAT) on March 12 had upheld the resolution plan of the grounded air […]