The creditors of Jet Airways, the grounded carrier, have raised questions about the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium before the National Company Law Appellate Tribunal (NCLAT). The lenders, including SBI and other banks, raised concerns that the funds deposited by the consortium do not align with the resolution plan. Additional Solicitor General N Venkataraman, representing the lenders, also expressed apprehensions about the possibility of money laundering. The lenders have requested time to file a reply regarding the compliance affidavit of the Jalan-Kalrock Consortium. The matter has been scheduled for the next hearing on October 12.
Meanwhile, the consortium’s representative, senior advocate Krishnendu Datta, stated that only a portion of the money came from another source, while the majority of the amount was paid by Murari Lal Jalan. He further alleged that the lenders are objecting to every move because they do not want to transfer Jet’s ownership.
The Jalan-Kalrock Consortium, the winning bidder for Jet Airways, had to pay Rs 350 crore to the lenders by August 31. However, the deadline was extended till September 30 by the NCLAT. The consortium has submitted an undertaking, committing to pay Rs 100 crore by August 31, 2023, and another Rs 100 crore by September 30, 2023. On September 29, the consortium announced that it had fulfilled its total financial commitment of Rs 350 crore as per the court-approved resolution plan.
