Supreme Court Sets Aside Transfer Of Jet Airways To Jalan Kalrock Consortium, Orders Liquidation
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The Supreme Court has scrapped the Jalan-Fritsch consortium's resolution plan for Jet Airways, leading to the airline's liquidation. The court overturned the NCLAT's decision, citing the consortium's failure to infuse funds as a key reason. The court criticized the NCLAT's ruling and deemed liquidation as the best course of action for creditors and stakeholders.