The Supreme Court on Thursday dashed all hopes of a revival of Jet Airways as it ordered liquidation of the firm, which had been undergoing the insolvency resolution process for over five years.
A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra set aside the National Company Law Appellate Tribunal (NCLAT) ruling that upheld the transfer of the airline's ownership to Jalan Kalrock Consortium (JKC).
The bench stated that the liquidation was in the interest of creditors, workers, and other stakeholders of Jet Airways.
The court noted JKC's failure to infuse the promised funds of ₹350 crore to revive the cash-strapped airline.
This story is from the November 08, 2024 edition of The New Indian Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 08, 2024 edition of The New Indian Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Rising and Falling Waves of Art
Jitha Kathikeyan pays tribute to the unparalleled works of art, their genres and themes, and the artists whose names won't wither away with time
The Voids of the Year
2024 had its share of heartbreaks too when the art world mourned the loss of its beloved artists.
Abu Dhabi announces an array of new destinations and festivals for 2025
As the New Year dawns, Abu Dhabi is ready to dazzle travelers with an extraordinary lineup of entertainment, sports and cultural experiences, making it the ultimate destination for the 2025 holiday season.
ONCE UPON A TIME!
Here's a look into how Aurangabad can become a unique and enriching New Year holiday getaway destination...
Heritage Transport Museum in Gurugram welcomes new exhibits
FOR travellers eager to dive into India's cultural and industrial history, the Heritage Transport Museum in Tauru-Gurugram is a must-visit destination.
From Melbourne with season's greetings
TRAVIS HEAD was running back and forth on one corner of the outfield at the Melbourne Cricket Ground.
Booming Bumrah
PACER, WHO BURST ONTO THE SCENE SIX YEARS AGO, HAS GOTTEN BETTER WITH TIME TO BECOME ONE OF THE MOST INFLUENTIAL BOWLERS OF HIS ERA
Where will India captain bat?
IT'S been a question that followed India captain Rohit Sharma from the moment he landed in Perth.
SA eye WTC final in 2-Test series vs Pak
SOUTH AFRICA will be eyeing a place in the World Test Championship final with an all-seam attack against Pakistan in the first Test, starting Thursday.
Coaching & playing: Twin role with purpose for badminton nat'l's finalists
SHUTTLERS Lokeshviswanathan and Naveen P's journey is a tale of perseverance, hard work and resourcefulness.
