The creditors of the grounded carrier Jet Airways on Wednesday raised questions over the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium before the insolvency appellate tribunal NCLAT and said it does not align with the resolution plan.
Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told the National Company Law Appellate Tribunal (NCLAT) that there are apprehensions about the source of funds, which deposited money for Jalan-Kalrock Consortium s (JKC). The payment is not compliant with the resolution plan as it mandates that the money is to be paid through JKC, ASG submitted before a three-member NCLAT bench headed by chairperson Justice Ashok Bhushan.
Appearing for JKC, senior advocate Krishnendu Dutta, argued that the lenders are objecting to JKC s every move as they do not intend to transfer the ownership of the airline to them.
Jet Airways revival: JKC gets extension from NCLAT to pay ₹350 crore thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.