Supreme Court Orders Jet Airways’ Liquidation, Rejects Resolution Plan

The Supreme Court has ordered the liquidation of Jet Airways, citing “extraordinary” circumstances and the failure of the Jalan-Kalrock Consortium to fully pay creditors. Despite the National Company Law Tribunal’s earlier approval of a resolution plan, the court found the consortium’s non-payment of ₹350 crore as a key issue. Liquidation, the court ruled, would best serve stakeholders’ interests.