Jalan-kalrock Consortium Plan

Jet Airways' grounded assets will be liquidated, the Supreme Court said, invoking 'extraordinary' powers under Article 142 to set aside a National Company Law Appellate Tribunal decision upholding resolution and approving transfer of ownership.

The tribunal, which had already approved the consortium's resolution plan for Jet, also set the effective date of ownership as Nov. 16, 2022, the sources said.

The Jalan-Kalrock Consortium has selected IBS Software, a Thiruvananthapuram technopark-based SaaS solutions provider to the travel industry globally, as technology partner to deliver capabilities in passenger service system to Jet Airways, which is planning to relaunch commercial operations in September 2022.

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan.

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline.

Jet Airways' grounded assets will be liquidated, the Supreme Court said, invoking 'extraordinary' powers under Article 142 to set aside a National Company Law Appellate Tribunal decision upholding resolution and approving transfer of ownership.

The tribunal, which had already approved the consortium's resolution plan for Jet, also set the effective date of ownership as Nov. 16, 2022, the sources said.

The Jalan-Kalrock Consortium has selected IBS Software, a Thiruvananthapuram technopark-based SaaS solutions provider to the travel industry globally, as technology partner to deliver capabilities in passenger service system to Jet Airways, which is planning to relaunch commercial operations in September 2022.

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan.

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline.