SC sets aside NCLAT decision, orders liquidation of Jet Airways' assets
Thursday, 7 November 2024 ()
The Supreme Court has scrapped the Jalan-Fritsch consortium's resolution plan for Jet Airways, leading to the airline's liquidation. The court overturned the NCLAT's decision, citing the consortium's failure to infuse funds as a key reason. The court criticized the NCLAT's ruling and deemed liquidation as the best course of action for creditors and stakeholders.
The Supreme Court has scrapped the Jalan-Fritsch consortium's resolution plan for Jet Airways, leading to the airline's liquidation. The court overturned the NCLAT's decision, citing the consortium's failure to infuse funds as a key reason. The court criticized the NCLAT's ruling and deemed liquidation as the best course of action for creditors and stakeholders.
|
||||
|
||||
💡 newsR Knowledge: Other News MentionsSupreme Court of India Highest court of jurisdiction in IndiaAir pollution: SC orders closure of classes 10, 12 in Delhi-NCR, Grap 4 restrictions imposedThe Supreme Court of India has ordered the closure of 10th and 12th-grade classes across the Delhi-National Capital Region (NCR) due to the worsening air qualityDNA 'Constitutional obligation of governments to provide citizens pollution free environment': SC orders GRAP 4 curbs to be in force across NCR even if AQI drops below 400The Supreme Court has directed all NCR states to strictly implement GRAP Stage 4 pollution control measures, regardless of AQI fluctuations. The court mandated..IndiaTimes No relaxation of GRAP-4 without court's nod: Supreme Court slams Delhi government over anti-pollution curbs delayThe Supreme Court has rebuked the Delhi government for delaying the implementation of stricter pollution control measures, ordering that GRAP Stage 4 remain in..IndiaTimes SC lays down path, timeline that bulldozers must followThe Supreme Court of India has laid down a strict procedure for authorities to follow before demolishing illegal structures. A 15-day notice period, a personal..IndiaTimes You Might Like |