Supreme Court Orders Liquidation of Jet Airways

The court invoked extraordinary powers to liquidate Jet Airways after the failure of the Jalan-Kalrock Consortium to fulfill financial commitments.

Jet Airways' assets will be liquidated following a Supreme Court ruling that overturned a previous tribunal decision.
The court found the resolution plan, approved five years ago, was no longer viable due to non-payment to creditors.
The Jalan-Kalrock Consortium failed to meet key financial obligations, including an initial payment of ₹350 crore.
Creditors, led by the State Bank of India, successfully argued that liquidation was necessary to protect their interests.
The Supreme Court's decision ends a prolonged legal battle over the future of the once-prominent airline.