Jet Airways Revival Plan Decline Extended till March 29

The National Company Law Tribunal (NCLT) has extended the revival plan decline of Jet airways till March 29. The extension took place based on the submissions made by the Kalrock Jalan consortium and lenders. Earlier the deadline was expiring on March 22.

The deadline has been extended by a week that will allow leaders to formulate their views on the application of the consortium. The matter will now be heard on March 29. 

The NCLT cleared the consortium’s plan to revive Jet Airways in June last year. According to the plan, the consortium had 270 days to fulfill the conditions required for implementation. The consortium sought the exclusion of a certain number of days from the 270-day time frame.