The National Company Law Tribunal (NCLT) on Friday approved the transfer of ownership of bankrupt Jet Airways to the Jalan Kalrock consortium and gave the winning bidder more time to pay the dues to the creditors.

The latest rulings by the tribunal have come on two petitions filed by the consortium. One plea pertained to the approval of transfer of ownership and the second one related to the extension of time for the payment of dues to the creditors.

Earlier, the tribunal had given time till November 16, 2022 for the consortium to make the payments to the creditors of the airline.

The latest orders also come against the backdrop of differences between the consortium and the lenders of the airline, which has been grounded for nearly four years now.

On Friday, the tribunal allowed Jalan-Kalrock consortium’s plea to transfer the ownership of the airline.

A two-member NCLT Mumbai bench of Pradeep Narhari Deshmukh and Shyam Babu Gautam said as the effective date of the resolution plan has been taken as November 16, the consortium will get six months from the said date to make the payments to the creditors.