SC orders liquidation of Jet Airways’ assets, sets aside NCLAT decision

The Supreme Court has scrapped the Jalan-Fritsch consortium’s resolution plan for Jet Airways, leading to the airline’s liquidation. The court overturned the NCLAT’s decision, citing the consortium’s failure to infuse funds as a key reason. The court criticized the NCLAT’s ruling and deemed liquidation as the best course of action for creditors and stakeholders.