IL&FS, the board of directors of the company, has submitted an application to the National Company Law Appellate Tribunal (NCLAT) against several lenders, including IFCI, IIFCL, BoB, SBI, PNB, Indian Bank, and the government of Jharkhand, citing “undue delays” in obtaining consent for the transfer of road assets worth Rs 5,500 crore to an Infrastructure Investment Trust (InvIT) operated by
Punjab National Bank has challenged the rescue plan for Jet Airways (India) Ltd, posing a fresh hurdle to the Jalan-Kalrock consortium’s attempt to revive the grounded carrier. The state-run lender filed a petition before the National Company Law Appellate Tribunal (NCLAT) on Thursday, seeking to quash a rescue plan for Jet Airways approved by the National Company Law Tribunal (NCLT)
