NCLAT rejects SBI plea on Jet Airways’ bank guarantees2 min read 26 May 2023, 11:47 PM IST
State Bank of India had filed a plea on behalf of lenders in the appeals court seeking to invoke the bank guarantees worth ₹150 crore
Mumbai: The National Company Law Appellate Tribunal (NCLAT) on Friday dismissed a plea by lenders to Jet Airways (India) Ltd to invoke bank guarantees provided by the consortium of UAE-based businessman Murari Lal Jalan and Florian Fritsch, promoter of London-based Kalrock Capital, that has taken over the grounded carrier. This follows State Bank of India’s plea on behalf of the lenders in the appeals court seeking to invoke the bank guarantees worth ₹150 crore.
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