Jalan Kalrock Consortium to make ₹1,375-crore cash infusion in Jet; lenders to take steep haircut
The Hindu
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted clai
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium’s resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019. The consortium has proposed a total cash infusion of ₹1,375 crore, including ₹475 crore that will be used for payment to stakeholders, including financial creditors.
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