Supreme Court reserves verdict in Jet Airways ownership case

The Supreme Court has reserved its verdict in the Jet Airways ownership case, involving a dispute between the Jalan Kalrock Consortium (JKC) and the airline’s former lenders led by the State Bank of India (SBI). The lenders have sought liquidation of the company, arguing that the resolution plan has failed. JKC, selected as the successful resolution applicant, contends that the lenders have not facilitated the ownership transfer process. The case, rooted in the Corporate Insolvency Resolution Process (CIRP), has seen prolonged legal battles since Jet Airways was grounded in 2019. The court’s decision will determine the future of the airline and the resolution of its financial troubles.