Hammering in the last nail in the coffin for Jet Airways, the Supreme Court scrapped the Jalan-Fritsch Consortium’s (JFC) resolution plan for revival of the bankrupt Jet Airways, and ordered the liquidation of the grounded airline’s assets. The court found that the liquidation of Jet Airways was in the best interest of 
its creditors, employees, and other stakeholders.

“The resolution plan was violated after the consortium failed to infuse even the first tranche of funds within the stipulated timeline, as mandated by the plan. Additionally, the Rs 200 crore previously infused by the Jalan-Fritsch Consortium will be forfeited,” said the SC in its order, which was passed on Thursday and uploaded on Saturday.