This case involves appeals arising from orders of the National Company Law Appellate Tribunal (NCLAT) regarding a Resolution Plan submitted under the Insolvency and Bankruptcy Code, 2016 (IBC) for Jet Airways Limited. The Resolution Plan, proposed by a consortium led by Murari Lal Jalan and Florian Fristch, was approved by the Committee of Creditors (CoC) on 17 October 2020. The Resolution Professional then sought approval from the Adjudicating Authority (National Company Law Tribunal - NCLT). The Resolution Plan stipulated conditions for implementation, including validation of the Airline Operator Permit (AOP) by the Director General of Civil Aviation (DGCA) and Ministry of Civil Aviation (MoCA), approval of the business plan by DGCA and MoCA, slot allotment approval,
…The National Company Law Appellate Tribunal (NCLAT) issued orders related to a Resolution Plan under the Insolvency and Bankruptcy Code, 2016 (IBC) for Jet Airways Limited. The Resolution Plan, proposed by a consortium led by Murari Lal Jalan and Florian Fristch, was approved by the Committee of Creditors (CoC) on 17 October 2020. The plan included conditions such as validation of the Airline Operator Permit (AOP), approval of the business plan, slot allotment, international traffic rights clearance, and demerger of the ground handling business. The NCLT mandated completion of these conditions within 90 days, extendable by 180 days. A dispute arose between the Successful Resolution Applicant (SRA) and lenders (represented by State Bank of India - SBI) regarding
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The Resolution Plan proposed by a consortium…
NCLT issued i…
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This case involves appeals arising from orders of the National Company Law Appellate Tribunal (NCLAT) regarding a Resolution Plan submitted under the Insolvency and Bankruptcy Code, 2016 (IBC) for Jet Airways Limited. The Resolution Plan, proposed by a consortium led by Murari Lal Jalan and Florian Fristch, was approved by the Committee of Creditors (CoC) on 17 October 2020. The Resolution Professional then sought approval from the Adjudicating Authority (National Company Law Tribunal - NCLT). The Resolution Plan stipulated conditions for implementation, including validation of the Airline Operator Permit (AOP) by the Director General of Civil Aviation (DGCA) and Ministry of Civil Aviation (MoCA), approval of the business plan by DGCA and MoCA, slot allotment approval,
…The National Company Law Appellate Tribunal (NCLAT) issued orders related to a Resolution Plan under the Insolvency and Bankruptcy Code, 2016 (IBC) for Jet Airways Limited. The Resolution Plan, proposed by a consortium led by Murari Lal Jalan and Florian Fristch, was approved by the Committee of Creditors (CoC) on 17 October 2020. The plan included conditions such as validation of the Airline Operator Permit (AOP), approval of the business plan, slot allotment, international traffic rights clearance, and demerger of the ground handling business. The NCLT mandated completion of these conditions within 90 days, extendable by 180 days. A dispute arose between the Successful Resolution Applicant (SRA) and lenders (represented by State Bank of India - SBI) regarding
…The Resolution Plan proposed by a consortium…
NCLT issued i…
Sign in to view related legal provisions.