Supreme Court orders liquidation of Jet Airways; sets aside transfer of ownership to JKC

The Court further said that JKC, the successful resolution applicant (SRA), contravened the terms of resolution plan and the same cannot be implemented.
Supreme Court orders liquidation of Jet Airways; sets aside transfer of ownership to JKC
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In a judgment of significant import on Indian aviation sector, the Supreme Court on Wednesday ordered the liquidation of defunct airline Jet Airways as per the Insolvency and Bankruptcy Code (IBC) [State Bank of India and ors v Consortium of Mr Murali Lal Jalan and Mr Florian Fritsch and anr].

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