Supreme Court overturns NCLAT ruling, orders liquidation of Jet Airways, rejects transfer of Jalan-Kalrock consortium

The Supreme Court has set aside the National Company Law Appellate Tribunal’s (NCLAT) ruling which upheld the transfer of ownership of Jet Airways to Jalan-Kalrock Consortium (JKC) under an approved resolution plan. The SC allowed appeals by State Bank of India (SBI) and other creditors. According to the ANI report, the Supreme Court also ordered the liquidation of Jet Airways.