Jet Airways an erstwhile premium airline operating primarily in
Indian air space has been suffering financial distress for almost a
decade now. After being relegated to insolvency proceedings under
the Insolvency and Bankruptcy Code, 2016 (IBC), the Company and its
lenders had finally seen some hope of being airborne again when a
resolution plan was approved under the IBC regime. However, the
approval of the resolution plan has till date not resulted in
ultimate resolution of the Company. Recently the Hon’ble
Supreme in its judgment dated 07.11.2024 directed for liquidation
of the Company. The Hon’ble Supreme Court while rejecting the
request of the erstwhile Successful Resolution Applicant (SRA) of
Jet Airways for grant of…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
