Home / Companies / News / Kalorck Capital raises concerns over transparency of Jet resolution process

Kalorck Capital raises concerns over transparency of Jet resolution process

Kalrock has written to the lenders saying that the bid process should be completed transparently and quickly, pointing to the successful resolution of bankrupt Virgin Australia

Premium

Time is running out for the beleaguered airline company as the corporate insolvency resolution process (CIRP) is supposed to end on October 21

Aneesh Phadnis Mumbai

3 min read Last Updated : Sep 29 2020 | 10:38 PM IST

Kalrock Capital, one of the two bidders participating in the revival of Jet Airways, has raised questions over the transparency of the process following lenders' decision to seek revised bids.

Kalrock has written to the lenders saying that the bid process should be completed transparently and quickly, pointing to the successful resolution of bankrupt Virgin Australia. A source familiar with resolution process said Kalrock's business plan had been ranked higher than Imperial Capital's plan and another extension in bid submission may have made it jittery.

On Monday, the committee of creditors (CoC) decided to give two bidders - Kalrock Capital

Topics : Jet Airways Jet Airways sale Virgin Australia

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in