Supreme Court Orders Liquidation of Jet Airways on Failure of Resolution Plan

The Supreme Court has ordered the liquidation of Jet Airways following the failure of its resolution plan. The airline, which has been undergoing insolvency proceedings, could not secure a viable resolution plan acceptable to its creditors and stakeholders. The court's decision marks a significant development in the long-drawn insolvency process of Jet Airways, emphasizing the consequences of failing to achieve a successful restructuring. The liquidation order will lead to the sale of the airline's assets to pay off debts, impacting employees, creditors, and the aviation sector. This case highlights the challenges in reviving distressed companies and the role of judicial interventions in insolvency matters