Jet Airways Bidder May Exit Deal

17 May 2024 CW Team

The Jalan-Kalrock Consortium, the winning bidder for the revival of Jet Airways, is considering exiting the deal due to significant delays and ongoing legal challenges. Initially hopeful, the consortium has faced numerous hurdles in the complex insolvency process, including unresolved financial issues and regulatory setbacks. Jet Airways, once a leading Indian airline, ceased operations in 2019. The consortium's frustrations stem from continuous setbacks, disagreements with creditors, and the lengthy process of obtaining necessary approvals.

Jet Airways' grounding left a void in the Indian aviation market, and its potential revival was seen as a positive development. However, the prolonged legal battles and financial complications have made it increasingly difficult for the Jalan-Kalrock Consortium to proceed with their plans. The consortium's patience is waning as they grapple with these persistent challenges, leading them to reconsider their commitment to the airline's revival.

Despite the consortium's initial optimism, the ongoing issues highlight the complexities of reviving a defunct airline through an insolvency process. The lengthy delays and legal entanglements are causing significant frustration, making an exit from the deal a viable option for the consortium. If the consortium decides to withdraw, it would mark a significant setback for Jet Airways' revival hopes and the broader aviation sector in India.

The situation underscores the difficulties faced by investors in navigating India's insolvency regulations and the challenges of reviving an airline in a competitive and regulated industry. The consortium's potential exit could lead to further delays in Jet Airways' return to the skies, impacting employees, creditors, and the aviation market at large.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..