NCLT Allows Jet Airways Liquidator to Park Aircraft Sale Proceeds

The National Company Law Tribunal (NCLT) has allowed Jet Airways’ liquidator to deposit the money from selling the airline’s aircraft into a fixed deposit account.

This is because there is a dispute with Mumbai International Airport Limited (MIAL) over some unpaid dues.

The NCLT decided that the money should be kept in a fixed deposit until the dispute is resolved.

The liquidator had asked for this because earlier, another court had said the money should be kept in a separate account, but the liquidator thought that would cause delays.

Both sides agreed that the money should not be used until the dispute is settled.

The NCLT’s decision ensures the money is safe and will be dealt with according to the final decision on MIAL’s claims.