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NCLT likely to begin Jet Airways resolution plan hearing today

Last year in October, the creditors of Jet Airways approved a resolution plan submitted by a consortium of UK-based Kalrock Capital and UAE-based businessman Murari Lal Jalan.

Written by Khushboo Narayan | Mumbai |
February 23, 2021 3:07:31 am
The airline was grounded in April 2019, around 16,000 permanent employees and over 6,000 employees were left stranded overnight. (File photo)

The National Company Law Tribunal (NCLT) is likely to begin hearing the resolution plan of Jet Airways for approval on Tuesday, said the Resolution Professional of Jet Airways, Ashish Chhawcharria.

Last year in October, the creditors of Jet Airways approved a resolution plan submitted by a consortium of UK-based Kalrock Capital and UAE-based businessman Murari Lal Jalan.

On Monday, the NCLT dismissed pleas of at least five employee associations of Jet Airways including Cabin Crew Association, JAMEWA and NAG for sharing the resolution plan of the airline with its employees.

Shares of Jet Airways rose 4.98 per cent to hit the upper circuit limit of Rs 114.90 a piece on the BSE Monday after Jalan said tthe airline is likely to begin its operations within four to six months of NCLT clearance.

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