NCLAT refuses to stay sale of three aircraft of Jet Airways
Admin
Dec 28, 2023 12:06
70
Insolvency appellate tribunal NCLAT has dismissed the plea of Jalan Kalrock Consortium, the successful bidder of Jet Airways, challenging an NCLT order directing the sale of three aircraft of the grounded air carrier.
A three-member NCLAT bench upheld the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on October 17, 2023, directed to go ahead with the sale of three aircraft to Malta-based firm Ace Aviation.
The National Company Law Appellate Tribunal (NCLAT) also dismissed the petition of All India Jet Airways Officers and Staff Association, challenging the NCLT order.
