Setback to Jalan Kalrock consortium as Apex court dismisses the plea over payment of dues

In a setback to the new owners of Jet Airways, Jalan Kalrock Consortium (JKC), the Supreme Court of India has dismissed their appeal to stay the National Company Law Appellate Tribunal’s (NCLAT’s) order to pay the provident fund (PF) and gratuity amounting to INR 2500 million to the former workers and employees of the airline. The order came over a petition challenging the orders of the Mumbai bench of the National Company Law Tribunal (NCLT), which had on June 22, 2021, approved the bids of the Jalan-Kalrock consortium and directed payment of the outstanding dues to the workers. The appellate