A bench, headed by CJI D.Y. Chandrachud, allowed the lenders' plea against the transfer of ownership of the grounded airline to Jalan Kalrock Consortium (JKC).
The bench, also comprising Justices J.B. Pardiwala and Manoj, invoked its extraordinary powers under Article 142 of the Constitution "for doing complete justice" between the parties and ordered the appointment of a liquidator forthwith.
Further, it ordered the forfeiture of Rs 200 crore infused by the JKC and directed lenders to invoke a Rs 150 crore Performance Bank Guarantee (PBG).
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