The Supreme Court on Thursday quashed Jalan Kalrock Consortium's (JKC) petition challenging the National Company Law Appellate Tribunal's order to allow the sale of three Jet Airways aircraft.
JKC is the successful bidder tasked to revive the grounded Jet Airways and the consortium filed the plea to challenge the sale of three of the grounded airline's Boeing 777s to Malta-based Ace Aviation for Rs 400 crore.
A bench headed by Justice Abhay Sriniwas Oka said it did not find anything wrong with the tribunal's order, pointing out that the sale will help infuse more funds, thereby benefitting JKC, reported MoneyControl.
JKC move the apex court after the tribunal dismissed its plea on Wednesday. It came in response to Ace Aviation's plea in the tribunal, seeking to expediate the sale as the aircraft have been grounded since 2018 and hence the company needs at least eight to 10 months to repair them.