💨 Abstract

The Supreme Court has ordered the liquidation of grounded air carrier Jet Airways' assets, overruling the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of Jet Airways in favor of Jalan Kalrock Consortium (JKC). The decision was made in the interest of creditors, workers, and other stakeholders, with the court rapping NCLAT for its decision.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖