Friday, March 19, 2021

Will Jalan be able to buy Jet Airways? Security clearance in doubt as DGCA steps in

New Delhi: The grounded Jet Airways aircraft are expected to fly again. But this is possible only if the bidder gets the approval from National Company Law Tribunal (NCLT). Jalan-KalRock Consortium, a company of Murari Lal Jalan, has submitted a resolution plan to the Committee of Creditors (CoC) to takeover Jet Airways. The CoC has also approved it. Now the matter is with NCLT.

New Delhi: The grounded Jet Airways aircraft are expected to fly again. But this is possible only if the bidder gets the approval from National Company Law Tribunal (NCLT). Jalan-KalRock Consortium, a company of Murari Lal Jalan, has submitted a resolution plan to the Committee of Creditors (CoC) to takeover Jet Airways. The CoC has also approved it. Now the matter is with NCLT.

It is not easy to get security clearance for Murari Lal Jalan, because the Jalan family has a connection with the infamous Gupta brothers (Ajay, Atul and Rajesh Gupta). It is believed that with the help of Murari Lal Jalan, the Gupta brothers want to make a backdoor entry into the Jet Airways deal.

Murari Lal Jalan and the Gupta Brothers may have stepped up efforts to buy Jet Airways, but the Ministry of Civil Aviation and DGCA have recently filed an affidavit at the NCLT in Mumbai. According to this, it will not be easy to get slots for Jet Airways, rights to fly on routes and revive its old clearances.

A 'slot' dictates the fixed route and the time of flight on which the airline flies from one place to another. But the Ministry of Aviation and DGCA has made it clear that the slot of an airline is not its personal property. In an affidavit filed in the NCLT Tribunal of Companies Act, the DGCA also requested that the tribunal should not issue any order for the DGCA that puts an obligation on it to allocate slot to Jet Airways.

19/03/21 Amit Prakash/ZeeNews

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