Kalrock-Jalan Consortium Opposes Sale Of Three Jet Airways Planes

Kalrock-Jalan is yet to pay Jet’s creditors and in a hearing before National Company Law Tribunal in Mumbai on Thursday, its lawyer said the consortium will file an intervening application opposing the sale.

The submission was made on a plea by European cargo airline Ace Aviation VIII Limited, which has emerged as the successful bidder for the three aircraft.

Ace Aviation moved the tribunal last December, seeking expeditious completion of the aircraft sale. It filed another application this week after a monitoring committee comprising lenders and a resolution professional did not reply to its December application.

Ace Aviation's lawyers demanded that the committee place on record minutes of their meeting dealing with the sale of aircraft. They said that for four months there was no reply from the committee despite several reminders.