💨 Abstract

The Supreme Court of India, invoking its extraordinary powers under Article 142 of the Constitution, has directed the liquidation of Jet Airways due to an inordinate delay in implementing the resolution plan by the Successful Resolution Applicant (SRA). The court set aside the National Company Law Appellate Tribunal's (NCLAT) order for transfer of the airline's ownership to the Jalan Kalrock Consortium (JKC).

Courtesy: theprint.in

Summarized by Einstein Beta 🤖