Supreme Court Orders Liquidation of Jet Airways
In a significant development, the Supreme Court issued orders on Thursday for the liquidation of financially troubled airline Jet Airways, following failed efforts to revive the airline through insolvency resolution proceedings. A bench led by Chief Justice DY Chandrachud noted that the decision to proceed with liquidation was made in the interest of creditors and employees, acknowledging the financial challenges the airline has faced.
The court directed the National Company Law Tribunal (NCLT) Mumbai bench to appoint a liquidator for the sale of Jet Airways’ assets. This move effectively brings the long-standing saga of Jet Airways to an end, closing the chapter on a company that was once one of India’s leading private airlines.
The Supreme Court also underscored the importance of fairness in recruitment processes, stating that procedures for employee selection should not be arbitrary and must adhere to Article 14 of the Constitution, ensuring equality and transparency. The court emphasized that government recruitment should be transparent, free from discrimination, and that sudden changes to rules midway could lead to confusion and distress among applicants.
In conclusion, the court’s ruling reflects a commitment to both the rights of employees affected by the liquidation of Jet Airways and broader principles of fairness in employment practices. This ruling marks a key development in corporate insolvency in India, particularly in the aviation sector.
