The apex court has set aside the National Company Law Appellate Tribunal (NCLAT) order which upheld the transfer of ownership of the airline to Jalan Kalrock Consortium (JKC).
Naresh Goyal, the founder of Jet Airways, has been granted interim bail for two months by the Bombay High Court due to medical reasons. The court's decision comes after Goyal's arrest by the Enforcement Directorate in a money laundering case.
Citing an audit report, the ED has claimed that the loans availed by Jet Airways (India) Limited (JIL) were used for purchasing immovable assets such as furniture, apparel and jewellery.
The Enforcement Directorate (ED) arrested him on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office in Mumbai.
The Jet Airways founder was taken to court by the ED officials in an alleged case of fraud of Rs 538 crores.
The Enforcement Directorate late Friday night arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of Rs 538 crore at the Canara Bank.
The FIR was registered on the bank's complaint which alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd (JIL) to the tune of Rs 848.86 crore of which Rs 538.62 crore is outstanding.
The Jalan-Kalrock Consortium has obtained renewal for the air operator certificate for Jet Airways from the DGCA.
Jet Airways: The Air Operator's Certificate (AOC) of the airline was revalidated on May 20 last year for a one-year period and the validity ended on Friday.
The raids were conducted at the residences and offices of Jet Airways founder Naresh Goyal, his wife Anita Goyal and former company director Gaurang Anand Shetty.
Jet Airways: Amid continuing uncertainties, many senior executives have quit the airline in recent months.
Jet Airways CEO Sanjiv Kapoor in a tweet said that metro stations in India are 'artless concrete eyesores design' while comparing them with those in Dubai.
The opening batch of the cabin crew members in the airline will consist of former staff only.
With DGCA officials onboard, the airline had successfully operated five proving flights on May 15 and 17.
The Jalan-Kalrock Consortium is currently the promoters of Jet Airways. The airline in its old avatar was owned by Naresh Goyal and had operated its last flight on April 17, 2019.
The grounded airline, which is expected to resume operations this year under its new promoters Murari Lal Jalan-Kalrock consortium, in a regulatory filing clarified that Gaur was not the interim CEO of the company.
Jet Airways was grounded in April 2019 due to fund crunch and high debt.
The now-grounded Jet Airways is likely to take the skies again within six months from now. On June 22, the Mumbai bench of the NCLT approved the resolution plan of the Kalrock-Jalan Consortium and gave a 90-day time period to the DGCA and the Civil Aviation Ministry to allot the slots
A brief timeline of the insolvency resolution process of Jet Airways, which started off as an air tax operator in 1993 and became a scheduled carrier in 1995.
The National Company Law Tribunal (NCLT) on Tuesday approved Jalan Kalrock Consortium's resolution plan for the bankrupt-Jet Airways.
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