MUMBAI, June 22 (The CONNECT) - The National Company Law Tribunal (NCLT), Mumbai Bench, today approved the Resolution Plan submitted by the Jalan Kalrock Consortium for the corporate insolvency resolution of Jet Airways (India) Ltd.
The Consortium awaits the written order by the National Company Law Tribunal approving the Resolution Plan and shall inform all stakeholders on next steps for the revival of their beloved airline – Jet Airways.
The Consortium said it thanks all the stakeholders who supported the it in this long journey until now. It also seeks their continued support and encouragement on the way forward.
The Consortium maintains its stand that it wants to work alongside the Ministry of Civil Aviation, the Directorate General of Civil Aviation and all its competitors to put Jet Airways back in the skies.
The journey until now has been extremely challenging yet satisfying and this would not have been possible without the continued support of the Committee of Creditors of Jet Airways, the Resolution Professional for Jet Airways, all the Advisors and Consultants of the Consortium and the millions of Jet Airways well-wishers and loyal customers across the Globe, who stood by us throughout the process. “We are overwhelmed by the support,” an official statement through the Consortium’s PR agency said.
KALROCK Capital website says the firm is an alternative investment advisor, managing significant partners’ assets across a number of clearly defined and diversified strategies and single investments, with focus on private markets. We are mainly active in the following three verticals: Real Estate, Venture Capital and Special Situations.
Murari Jalan is the founder of UAE-based MJ Developers, "a strategic real estate development organization specializing in the development of integrated smart cities." The main objectives of the organization are investment and development of premium smart cities in emerging markets with a particular focus on Uzbekistan. We create economic value while contributing to higher living standards through our innovative high quality real estate products.