https://www.taxtmi.com/caselaws?id=438277 The Resolution Plan submitted by Respondent No.1 for Jet Airways (India) Limited was approved, with certain directions, by the Adjudicating Authority. The conditions precedent for operationalizing the Corporate Debtor were deemed fulfilled, and the timeline for Plan execution was extended. The appointment of Directors to ensure regulatory compliance was allowed. The exclusion of time for Plan implementation was granted, and the MC Lenders were restrained from invoking the Performance Bank Guarantee unless authorized by the Adjudicating Authority. The Tribunal stressed the importance of all stakeholders working together for the Corporate Debtor's revival. en-us Fri, 26 May 2023 00:00:00 +0530 Sat, 27 May 2023 09:32:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438277 The Resolution Plan submitted by Respondent No.1 for Jet Airways (India) Limited was approved, with certain directions, by the Adjudicating Authority. The conditions precedent for operationalizing the Corporate Debtor were deemed fulfilled, and the timeline for Plan execution was extended. The appointment of Directors to ensure regulatory compliance was allowed. The exclusion of time for Plan implementation was granted, and the MC Lenders were restrained from invoking the Performance Bank Guarantee unless authorized by the Adjudicating Authority. The Tribunal stressed the importance of all stakeholders working together for the Corporate Debtor's revival. Case-Laws Insolvency and Bankruptcy Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438277