Govt accepts Jet Airways revival plan

June 22, 2021 14:59

The Jet Airways' revival plan submitted by a consortium of London-based Kalrock Capital and the UAE-based businessmen Murari Lal Jalan was approved by the National Companies Law Tribunal (NCLT) on Tuesday, reports say.

As part of the revival plan, NCLT has given 90 days to Director General of Civil Aviation and Aviation Ministry to allot slots to the debt-laden Jet Airways.

A bench of Janab Mohhamed Ajmal and V Nallasenapathy approved the resolution plan with riders. Allocation of slots will be considered as and when these are applied for and historic slots will not be available, the bench ordered. The consortium will have ninety days to seek all regulatory permissions and complete formalities for restarting the airline and can seek a further extension if required.

« Back to LIVE

TOP STORIES

Diabetic Kejriwal eating mangoes, sweets to get bail: ED

This is being done to make grounds for medical bail, the ED told the court

West Asia tensions stall India's plans to import crude oil from Iran

The latest flashpoint in West Asia has derailed India's preliminary plans to resume crude oil imports from Iran, officials said. In January, officials of the Ministry of Petroleum and Natural Gas had told Business Standard that the...

SC asks EC to look into EVM glitch favouring BJP in mock polls in Kerala

The Election Commission of India said that reports of EVM showing one extra vote during a mock poll were false.

CSK's Conway out of IPL 2024; Gleeson named replacement

Devon Conway had suffered a fractured left thumb during the T20I series against Australia in February and had undergone surgery for the same.

Long jumper Sreeshankar out of Paris Olympics with injury

Murali Sreeshankar has been ruled out of Paris Olympics after sustaining a knee injury during training.