Supreme Court Ruling After Resolution Plan Fails News24 –

The sad ending of Jet airways is here, as on Thursday Supreme Court ordered the liquidation of the bankrupt airline. The Supreme Court found about the successful bidder Jalan Kalrock Consortium (JKC), could not comply with the conditions of the resolution plans. This marks the tragic end of Jet Airways after a prolong fight back and struggle to revive itself.

The supreme court used its special powers under the Article 142 of the Constitution, It decided to liquidate the airline after noting the unfulfilled obligations by JKC, around the resolution plan. These included infusing the first tranche of ₹350 crore, paying worker dues, and settling essential costs like airport dues.

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(This is an updating story)