Jalan Kalrock Consortium says will decide next step after studying NCLT's written order


PTI | Mumbai | Updated: 22-06-2021 20:28 IST | Created: 22-06-2021 20:28 IST
Jalan Kalrock Consortium says will decide next step after studying NCLT's written order
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Jalan Kalrock Consortium, the winning bidder for Jet Airways, on Tuesday said it will decide on the next step after receiving NCLT's written order and emphasised that it will work with the aviation authorities to put the airline back in the sky.

The National Company Law Tribunal (NCLT) on Tuesday approved the consortium's resolution for Jet Airways, which was grounded in April 2019 While the written order is yet to be issued, the tribunal, in its oral order, also said that on the historicity of slot allocations, it was not giving a direction and the issue will be handled by the government or the appropriate authority.

In a statement, the consortium said the journey until now has been ''extremely challenging yet satisfying''.

''The consortium awaits the written order by the National Company Law Tribunal approving the Resolution Plan and shall inform all stakeholders on next steps for the revival of their beloved airline – Jet Airways,'' according to a statement.

As per the statement, the consortium maintains its stand that it wants to work alongside the civil aviation ministry, the Directorate General of Civil Aviation and all its competitors to put Jet Airways back in the skies.

''We are overwhelmed by the support... Our team will study the written order once issued by the NCLT and we will provide a detailed response on the next steps subsequently,'' it added. The consortium also said the journey would not have been possible without the continued support of the Committee of Creditors, the resolution professional, the advisors and consultants of the consortium, and the millions of Jet Airways well-wishers and loyal customers across the globe, who stood by us throughout the process.

The resolution plan submitted by the UK-headquartered Kalrock Capital and UAE-based Murarai Lal Jalan was approved by the airline's Committee of Creditors (CoC) in October 2020.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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