Jalan-Kalrock vs Jet lenders: NCLAT defers hearing till 7 August
₹400 crore of public money into the airline, which includes settling airport dues. According to the January order by the Mumbai bench of the tribunal, the effective date of the resolution plan was taken as 16 November.
As a result, the consortium has six months from the said date to make payments to lenders. On 22 June 2021, the NCLT in its order had approved the resolution plan submitted by the Jalan-Kalrock consortium.
The consortium comprises UAE-based non-resident Indian Murari Lal Jalan, who will hold shares in Jet Airways in his personal capacity, and Florian Fritsch who will hold shares through his investment holding company Kalrock Capital Partners Ltd, Cayman. Jet Airways stopped flying in April 2019 after running into financial difficulties.
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