Supreme Court Allows Appeals by State Bank of India in Jet Airways Insolvency Case — Holds Performance Bank Guarantee Cannot Be Adjusted Against Resolution Plan Payment and Non-Implementation Leads to Liquidation. The Court ruled that the SRA's failure to pay airport dues and employee dues constituted non-implementation of the Resolution Plan under Section 33(3) IBC, 2016, and the PBG cannot be set off against the first tranche payment.
13 Nov 2024The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Limited, initiated by State Bank of India (SBI) under S...
