SC orders liquidation of grounded air carrier Jet Airways' assets
New Delhi (PTI): The Supreme Court on Thursday exercised its extraordinary constitutional powers and ordered the liquidation of grounded air carrier Jet Airways' assets.
A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra set aside the National Company Law Appellate Tribunal (NCLAT) decision upholding the resolution plan of Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC).
Pronouncing the judgement for the bench, Justice Pardiwala allowed the plea of SBI and other creditors against the NCLAT decision that upheld the resolution plan of Jet Airways in favour of JKC.
It said the liquidation of the air carrier was in the interest of creditors, workers and other stakeholders.
The bench rapped NCLAT for its decision.
The top court used its powers under Article 142 of the Constitution which gives it the power to make orders and decrees to ensure complete justice in any matter or cause pending before it.
The NCLAT on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to JKC. The SBI, Punjab National Bank (PNB) and JC Flowers Asset Reconstruction Private Limited have challenged the NCLAT verdict.
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Pakistan reports two more polio cases; Total tally now 52
ISLAMABAD: At least two more cases of poliovirus were reported in Pakistan, taking the number of infections to 52 so far this year, a report said on Friday.
“The Regional Reference Laboratory for Polio Eradication at the National Institute of Health has confirmed the detection of two more wild poliovirus type 1 (WPV1) cases in Pakistan," an official statement said.
The fresh infections — a boy and a girl — were reported from the Dera Ismail Khan district of Khyber-Pakhtunkhwa province.
“Genetic sequencing of the samples collected from the children is underway," the statement read. Dera Ismail Khan, one of the seven polio-endemic districts of southern Khyber Pakhtunkhwa province, has reported five polio cases so far this year.
Of the 52 cases in the country this year, 24 are from Balochistan, 13 from Sindh, 13 from Khyber Pakhtunkhwa, and one each from Punjab and Islamabad.
There is no cure for polio. Only multiple doses of the oral polio vaccine and completion of the routine vaccination schedule for all children under the age of five can keep them protected.
