Liquidator was appointed by NCLT for Jet Air-ways (India) Limited in violation of approved resolution plan

State Bank of India Vs Jet Airways India (NCLT Mumbai)

Conclusion: National Company Law Tribunal appointed Mr. Satish Kumar Gupta as Liquidator of Jet Airways India Limited since, the Respondents were admittedly in gross violation of the approved Resolution Plan, and in any case, were admittedly unable to abide by the said Resolution Plan.

Held:  Applicant-State Bank Of India had filed application for fixing liquidator under section 60(5) & 7 of the Insolvency and Bankruptcy Code, 2016. The matter was for taking on reco

Please become a Premium member. If you are already a Premium member, login here to access the full content.