Jet Airways insolvency: NCLAT adjourns hearing to Nov 9

economictimes.indiatimes.com:

NCLAT on Wednesday adjourned the hearing on the Jet Airways matter to November 9 over the issue of transfer of ownership of the grounded air carrier to the Jalan Kalrock Consortium (JKC). When the matter was called for hearing on Wednesday, Additional Solicitor General N Venkataraman informed the two-member bench that the identical matter is also listed before the Supreme Court for hearing next week on November 7.

Venkataraman, who is representing lenders including SBI and other banks in this matter, requested the bench to adjourn and list it for hearing after that, which was accepted by the bench headed by Chairperson Justice Ashok Bhushan.
Though, senior advocate Krishnendu Dutta appearing for JKC, requested NCLAT to proceed and said the matter before the Supreme Court on November 7 had no direct connection with the matter before the appellate tribunal.

Lenders of Jet Airways approached the Supreme Court last month over the NCLAT order granting more time to JKC for payment to them.
JKC, the winning bidder for the airline, which stopped flying in April 2019, and later underwent an insolvency resolution process, had to pay Rs 350 crore to lenders by August 31.

Earlier on August 28, NCLAT extended the time till September 30, for Jalan-Kalrock Consortium for payment of Rs 350 crore to the lenders of the bankrupt Jet Airways.
It had accepted the plea of the consortium to extend the timeline and also for adjustment of Rs 150 crore from the performance bank guarantee (PBG) towards payment of Rs 350 crore.

The consortium on September 29, in a statement, had said it had fulfilled its total financial commitment of Rs 350 crore equity as per the court-approved resolution plan.
Later on October 12, creditors had sought