The Supreme Court on Thursday ordered liquidation of cash-strapped Jet Airways, saying that the resolution plan, approved five years ago, is no longer capable of implementation.

The Supreme Court noted that five years had passed since the plan was approved, and there had been no significant progress in reviving the airline.

New Delhi: Setting aside an order National Company Law Appellate Tribunal (NCLAT) the Supreme Court has ordered the liquidation of Jet Airways’ assets. The three-member bench rapped the NCLAT for its order and observed the appellate body acted against settled legal principles. Pronouncing the verdict, a three-member bench comprising Chief Justice D.Y. Chandrachud and Justices […]

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).

Jet Airways' grounded assets will be liquidated, the Supreme Court said, invoking 'extraordinary' powers under Article 142 to set aside a National Company Law Appellate Tribunal decision upholding resolution and approving transfer of ownership.

Supreme Court exercised its extraordinary constitutional powers and ordered the liquidation of grounded air carrier Jet Airways' assets

Jet Airways to be liquidated, orders Supreme Court saying it has “No Choice” on plea by lenders including SBI seeking to quash NCLAT’s order on handing over the airlines to Jalan-Kalrock Consortium

Jet Airways’ stock, which had hit a 5% lower circuit following the court's decision, closed at Rs 34.04 on the Bombay Stock Exchange.