NCLT Appoints Liquidator of Jet Airways (India) Limited

The National Company Law Tribunal (NCLT) appointed a liquidator to manage the liquidation process of Jet Airways India Limited. This step follows the airline's financial distress, which led to insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). The NCLT’s decision marks a significant step towards resolving the airline’s debt issues. The appointed liquidator will oversee the sale of assets and attempt to recover dues for creditors. The airline, once a major player in India’s aviation sector, has faced significant financial challenges and the liquidation order signals the end of its operations under the current ownership structure.