In a joint statement, Murari Lal Jalan, UAE-based businessman, and Manoj Narender Madnani, board member of London's Kalrock Capital, have denied rumours of the Jalan-Kalrock consortium’s withdrawal from the revival of Jet Airways, terming it as "baseless".
"All rumours surrounding the withdrawal of the consortium from the revival of Jet Airways are baseless and the consortium denies the same," read the statement.
They also stated that the consortium was committed towards the revival of Jet Airways and had no intentions of withdrawing from the process. "The consortium has faith in the Indian judicial system, and is confident that their plan would be approved by the adjudicating authority," the statement read.
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It further added that the plan submitted by the consortium took care of all the stakeholders of Jet Airways, including its financial and operational creditors and that the “revival of Jet Airways is of utmost importance for the Indian aviation sector and for its longstanding loyal customers in India and abroad".
Last December, the consortium had won the bid to revive Jet Airways. It expects to start operating the airline by the summer of 2021. In a joint statement then the consortium had stated that talks between the ministry of civil aviation and Directorate General of Civil Aviation to reinstate airport slots and bilateral traffic rights of Jet Airways were positive.
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The consortium has been awaiting approvals from National Company Law Tribunal (NCLT). The NCLT hearings have been getting delayed. The Mumbai Bench is supposed to give its order on whether or not to share the resolution plan of Jet Airways with its employees on February 22. As per reports, about five employee associations of Jet Airways have requested for the resolution plan.
Earlier, in January, the Jet Airways Aircraft Maintenance and Engineers Workers Association had also filed an application with NCLT to expedite the insolvency process of the airlines soon.
(Edited by : Jomy)
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