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NCLT strictness on Jet Airways solution scheme - जेट एयरवेज समाधान योजना पर एनसीएलटी की सख्ती
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NCLT gives DGCA till Mar 2 to respond on Jet Airways slots
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NCLT rejects applications seeking copy of Jet Airways resolution plan
Jet Airways was grounded on 17 April due to severe cash crunch and for not servicing its debt obligations.
(Abhijit Bhatlekar/Mint)
. Updated: 23 Feb 2021, 09:04 PM IST PTI
The plan was approved after the conclusion of the e-voting on the proposal, Jet Airways Resolution Professional Ashish Chhawchharia had said in a BSE filing
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MUMBAI :
The National Company Law Tribunal (NCLT) on Tuesday rejected applications filed by various parties seeking a copy of the resolution plan submitted by winning bidder Kalrock-Jalan Consortium for grounded Jet Airways.
The Mumbai bench of NCLT, chaired by Mohammed Ajmal and V Nallasenapathy, dismissed pleas by various applicants seeking a copy of the resolution plan submitted by Kalrock-Jalan consortium for the grounded airlines.
NCLT rejects applications seeking copy of Jet Airways resolution plan
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The National Company Law Tribunal (NCLT) will not hear employees of Jet Airways before passing its order on the grounded airline’s revival plan. It said so while rejecting employee union applications for intervention. Hearing on the resolution plan is expected to start on Tuesday. “Taking facts of the case at hand, and the law as it stands today into consideration, we are of the view that the applicants (employee unions) cannot be entitled to the copy of resolution plan or any portion thereof. They would also not be eligible to be heard or intervene in the process of consideration of the resolution plan by this authority. The payments as to their wages, gratuity and other terminal benefits shall be in accordance with the law and in terms of the resolution plan guided by the provisions under the code,” Janab Mohammed Ajmal (member judicial) and V Nallasenapathy (member technical) said in their order.