The Jalan Kalrock consortium (JKC), would-be owner of Jet Airways (JAI, Mumbai International), has withdrawn an appeal to India’s National Company Law Appellate Tribunal (NCLAT) seeking permission to transfer INR2 billion rupees (USD24 million) it had deposited with the defunct carrier’s lenders to an interest-bearing account.

Counsel for the consortium pulled the appeal on May 27 in the matter of State Bank of India & Others v The Consortium of Murari Lal Jalan and Mr Florian Fritsch & Another after the presiding judge, Ashok…

Source: ch aviation
Read more: Kalan Jalrock consortium axes NCLAT Jet Airways appeal