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Jet Airways (India) Ltd News

Jet Airways' Naresh Goyal moves HC, seeks extension of interim medical bail

Jet Airways founder Naresh Goyal has moved the Bombay High Court seeking extension of the two-month interim medical bail granted to him earlier. On May 6, the high court had granted interim bail for two months on medical grounds to Goyal, arrested in a money laundering case by the Enforcement Directorate (ED). Goyal, 75, has now filed an application seeking extension of the same. The plea said his medical condition continues to remain poor and that he has also lost his wife to cancer on May 16. The application came up for hearing on Tuesday before a single bench of Justice Manish Pitale. The court referred to a circular issued by the high court in February, stating that the applications where earlier pleas were considered and decided by a particular judge shall be placed before the same bench. Justice Pitale directed the high court's registry department to place Goyal's application before the single bench of Justice N J Jamadar, who had granted him interim bail in May for two ...

Jet Airways' Naresh Goyal moves HC, seeks extension of interim medical bail
Updated On : 25 Jun 2024 | 2:50 PM IST

Resolution plan at execution stage; FY24 results to be delayed: Jet Airways

Jet Airways on Thursday said there will be a delay in declaring the financial results for the quarter and year ended March 2024, and its monitoring committee expected to meet shortly to consider the results. "We wish to state that currently the approved resolution plan is at the implementation stage and every effort is being ensured to comply with the necessary provisions of SEBI LODR Regulations, as such a meeting of the monitoring committee will be convened at the earliest to consider and adopt the aforesaid financial results," the airline said in a regulatory filing. Jet Airways, which stopped flying in April 2019 due to financial crunch, is undergoing an insolvency resolution process. The resolution plan submitted by the consortium of Murari Lal Jalan and Florian Fritsch was approved by the Mumbai bench of the National Company Law Tribunal (NCLT) in June 2021. Subsequently, the monitoring committee was set up to oversee the implementation of the approved plan. The plan is yet t

Resolution plan at execution stage; FY24 results to be delayed: Jet Airways
Updated On : 30 May 2024 | 7:22 PM IST

Jet insolvency: JKC withdraws Rs 200 cr escrow plea after NCLAT ruling

The Jalan Kalrock Consortium (JKC), the successful bidder of the grounded Jet Airways, on Tuesday withdrew its plea before the NCLAT to move Rs 200 crore, which it paid to lenders, to an escrow account. The withdrawal comes after the National Company Law Appellate Tribunal (NCLAT) refused to give any relief to JKC. An NCLAT bench headed by Chairman Justice Ashok Bhushan said the matter is already before the Supreme Court. Following this, the Consortium of Murari Lal Jalan and Florian Fritsch withdrew the appeal. "Until the shares of the corporate debtor (Jet Airways) are not issued to the successful resolution applicant (consortium), pass necessary directions requiring the MC (monitoring committee) lenders to transfer the sum of Rs 200 crore infused by SR (successful resolution applicant), in the share application account to an interest bearing escrow account," JKC had said in its plea before the NCLAT. The tribunal asked the JKC either to withdraw its plea or face dismissal, on wh

Jet insolvency: JKC withdraws Rs 200 cr escrow plea after NCLAT ruling
Updated On : 28 May 2024 | 5:45 PM IST

Jet Airways founder granted interim bail for 2 months on medical grounds

The Bombay High Court on Monday granted interim bail for two months on medical grounds to Jet Airways founder Naresh Goyal, who has been arrested by the Enforcement Directorate (ED) in a money laundering case. A single bench of Justice N J Jamadar said Goyal shall pay a surety of Rs 1 lakh and not leave Mumbai without prior permission from the trial court. "The applicant (Goyal) shall be released on interim bail for a period of two months. He shall abide by all conditions imposed," the bench said. The high court also directed Goyal to surrender his passport. Goyal (75) had sought the interim bail on medical and humanitarian grounds as both he and his wife Anita Goyal are suffering from cancer. A special court in February refused bail to Goyal but permitted him to be admitted in a private hospital of his choice and seek medical treatment. Goyal then moved the HC, seeking bail on merits and to be released on interim bail on medical grounds. Goyal's counsel Harish Salve had urged t

Jet Airways founder granted interim bail for 2 months on medical grounds
Updated On : 06 May 2024 | 3:49 PM IST

Court denies bail to Naresh Goyal, says he is getting best treatment

Medical reports did not indicate that Jet Airways founder Naresh Goyal's health would improve if he was released and he was already getting the "best possible" treatment at a hospital of his choice, a court here has said while refusing him bail. Special judge for cases under Prevention of Money Laundering Act (PMLA), M G Deshpande, on April 10 rejected the 74-year-old businessman's bail application, filed on the ground that he suffers from numerous life-threatening medical conditions. The court had, in February 2024, denied interim bail to Goyal when he sought relief on the ground that he was suffering from cancer. It, however, permitted him to undergo treatment at a hospital of his choice. Later, Goyal moved another application for bail, citing the deterioration in his health since hospitalization. He suffered from fever with chills and also had psychiatric issues, he said. The court in its detailed order, which became available on Saturday, noted that it had expressed concern .

Court denies bail to Naresh Goyal, says he is getting best treatment
Updated On : 13 Apr 2024 | 9:53 PM IST

NCLAT clears runway for Jalan Kalrock Consortium's Jet Airways ownership

NCLAT has directed SBI to complete the transfer within 90 days and instructed JKC to obtain an air operator's certificate within the same period

NCLAT clears runway for Jalan Kalrock Consortium's Jet Airways ownership
Updated On : 12 Mar 2024 | 9:17 PM IST

NCLAT upholds Jet Airways transfer of ownership to Jalan Kalrock Consortium

Insolvency appellate tribunal NCLAT on Tuesday upheld the resolution plan of grounded carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium. The NCLAT bench has directed the Jet Airways monitoring committee to complete the transfer of ownership within 90 days. Besides, it has also directed the lenders of Jet Airways to adjust the Rs 150 crore paid by the consortium as performance bank guarantee. The lenders of Jet Airways and Jalan Kalrock Consortium (JKC), the successful bidder, are in a legal tussle for more than a year over the transfer of the management of the grounded carrier. Earlier, the lenders had approached the Supreme Court, which had declined to interfere in the matter and had directed the National Company Law Appellate Tribunal (NCLAT) to take a decision on the issue. The NCLAT directed the managing committee, consisting of lenders led by SBI, to create security on immovable properties as offered by the successful resolution applic

NCLAT upholds Jet Airways transfer of ownership to Jalan Kalrock Consortium
Updated On : 12 Mar 2024 | 5:11 PM IST

SC rejects JKC's plea opposing sale of Jet Airways aircraft to Ace Aviation

The court said it did not find anything wrong with NCLAT order and JKC could benefit from aircraft sale

SC rejects JKC's plea opposing sale of Jet Airways aircraft to Ace Aviation
Updated On : 07 Mar 2024 | 6:38 PM IST

NCLAT green lights sale of Jet planes to Ace Aviation, JKC approaches SC

Ace approached the National Company Law Appellate Tribunal (NCLAT) two weeks ago seeking to expedite the sale of three aircraft in Mumbai in the same case

NCLAT green lights sale of Jet planes to Ace Aviation, JKC approaches SC
Updated On : 06 Mar 2024 | 6:51 PM IST

Jet Airways founder Naresh Goyal seeks interim bail to treat cancer

Jet Airways founder Naresh Goyal, an accused in a money laundering case, has moved a plea before a special court here seeking interim bail for treatment of malignancy, which was revealed during tests conducted by private doctors. The court passed an initial order for setting up a medical board to examine Goyal's medical reports as ED sought time to respond to his interim bail plea. Last month, special judge for cases under the Prevention of Money Laundering Act (PMLA) M G Deshpande had allowed Goyal (74) to undergo medical tests by private doctors. In the plea moved on Thursday for interim bail, Jet Airways founder Goyal said malignancy was revealed during the tests undertaken by the private doctors. As per his medical records, Goyal has small tumours in his intestine (common location for small tumours), called 'Neuro Endocrine Tumours' (slow growing cancer). He also has a hiatus hernia of about 35 cm to 40 cm with severe reflux oesophagitis, which is a medical condition that occu

Jet Airways founder Naresh Goyal seeks interim bail to treat cancer
Updated On : 16 Feb 2024 | 8:47 AM IST

Court allows Jet founder Goyal to undergo colonoscopy at private hospital

The superintendent of Arthur Road jail shall arrange sufficient escort at the expenses of the applicant (Goyal), the court said

Court allows Jet founder Goyal to undergo colonoscopy at private hospital
Updated On : 25 Jan 2024 | 9:46 PM IST

Jet Airways case: SC deals blow to JKC, orders Rs 150 crore bank guarantee

The Supreme Court ruled that if Jalan Kalrock Consortium (JKC) fails to furnish the bank guarantee, legal penalties will follow

Jet Airways case: SC deals blow to JKC, orders Rs 150 crore bank guarantee
Updated On : 18 Jan 2024 | 6:38 PM IST

Jet Airways case: Supreme Court directs JKC to deposit Rs 150 crore

"The question of adjustment of Rs 150 crore (through bank guarantee), we will keep it with the NCLAT. You (JKC) have to (pay)," the apex court said

Jet Airways case: Supreme Court directs JKC to deposit Rs 150 crore
Updated On : 18 Jan 2024 | 10:30 PM IST