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Thursday, November 7, 2024

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Liquidation

Supreme Court Orders Liquidation Of Jet Airways, Citing ‘Extraordinary’ Circumstances

07 Nov 2024

In a landmark decision on Thursday, the Supreme Court of India invoked its powers under Article 142 to overturn a tribunal's ruling and order the liquidation of Jet Airways, after the Jalan-Kalrock Consortium failed to fully pay creditors. The court emphasized the "peculiar and alarming" circumstances of the case and...