The employees union of the erstwhile Jet Airways, Jet Aircraft Maintenance Engineers Welfare Association (JAMEWA) has opposed the application that was filed by Kalrock and Jalan.
They are seeking two more months from the NCLT to complete regulatory requirements to relaunch the airline. The lawyers that are appearing on behalf of JAMEWA, said that it had filed an Interlocutory Application (IA) in the said matter to oppose the said extension.
According to the union’s prayer to the court, it wants to be made a party to the application. Hence, it has requested the court to pass directions to the consortium (resolution applicant).
It has also requested the court to direct the consortium’s lawyers to give a copy of the IA filed by them to JAMEWA. It has also sought interim relief in the said matter.
As per its application, JAMEWA said that the “union is a stakeholder in the resolution process,” and is a secured creditor.
The bench also asked the counsels appearing on behalf of the lenders whether they, too, were opposing the said request, to which the lawyers said that they needed time till March 22 to get directions from the client.
270-day implementation deadline
The 270-day period will only be to make the resolution plan. The deadline is on March 22 forcing the consortium to seek an extension.
Hence, the NCLT posted the matter for a hearing on Tuesday.
On June 22, 2021, a Mumbai bench of NCLT had already approved the resolution plan of the Murari Lal Jalan and Kalrock Capital consortium.
They were also given 270 days to implement the plan and the consortium had earlier already said that it planned to restart the airline in Q1 of CY2022.
Since there had been delays due to approvals. The new management has now said that it is planning to restart the airline by May this year.
The multiple hirings have already taken place which includes Sanjiv Kapoor as the CEO, Vipula Gunatilleka – Chief Financial Officer, Nakul Tuteja – Vice-President (HR and Admin), and Waleed Ali – VP (Products and Services), sources said.
