Jet Airways Staff Send Legal Notice To Tribunal, Legal News, ET LegalWorld – Legal Firms

Seeking compliance of last month’s National Company Law Appellate Tribunal (NCLAT) order, a Jet Airways staff union has sent a legal notice to the erstwhile resolution professional stating that no sale of airline assets should be carried out before the employees’ statutory dues are cleared. The NCLAT in its October...

Jalan-Kalrock Consortium not ruling out Supreme Court appeal, Legal News, ET LegalWorld – Legal Firms

A board member of the Jalan-Kalrock Consortium said it disagrees with Jet Airways' lenders over certain aspects of settlement of dues in the first public admission from the consortium of the tussle between the two parties.Ankit Jalan did not rule out legal options like approaching the Supreme Court to resolve...

No flight plan in sight, lenders may sell 11 aircrafts, Legal News, ET LegalWorld – Legal Firms

Lenders to Jet Airways are keeping open the option of selling 11 planes of the defunct carrier, effectively pushing the airline into liquidation, as they are increasingly frustrated with the delay in executing the resolution plan.Bankers say the Jalan-Kalrock consortium's failure to pay the required amount even one-and-a-half years after...

Jalan-Kalrock, Legal News, ET LegalWorld – Legal Firms

The Jalan-Kalrock consortium, winning bidder of Jet Airways, has moved the National Company Law Appellate Tribunal (NCLAT), saying provident fund and gratuity dues of Jet employees should be paid from the airline's existing cash balance and the rest from the lenders' share.On October 21, the appellate tribunal had directed the...

Jalan-Kalrock, Legal News, ET LegalWorld – Legal Firms

The Jalan-Kalrock consortium, winning bidder of Jet Airways, has moved the National Company Law Appellate Tribunal (NCLAT), saying provident fund and gratuity dues of Jet employees should be paid from the airline's existing cash balance and the rest from the lenders' share.On October 21, the appellate tribunal had directed the...