The Jalan Kalrock Consortium (JKC), the successful bidder for grounded Jet Airways, withdrew its plea to move Rs 200 crore paid to lenders to an escrow account after the National Company Law Appellate Tribunal (NCLAT) refused to provide relief. The NCLAT bench, headed by Justice Ashok Bhushan, stated the matter is already before the Supreme Court. The consortium chose to withdraw its plea, citing ongoing disagreements between lenders and consortiums.
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