The Mumbai Bench of the National Company Law Tribunal (NCLT) will hear the matter of Jet Airways’ resolution plan on December 3. Recently, the Resolution Professional (RP) of Jet airways had moved an application with the NCLT seeking approval for the offer made by the consortium of financial advisory firm Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan.

Last month, the consortium had submitted a resolution plan to resurrect the debt-strapped jet airways. The NCLT will now check if the RP has followed the IBC (Insolvency and Bankruptcy Code) process. They will look at whether the meetings have been conducted, minutes kept, and voting conducted per norms and unless something is flagged or an objection is filed, the NCLT will not comment on whether the business plan is viable or not because that is the prerogative of the CoC (Committee of Creditors) according to a source aware of these proceedings.

The CoC had approved the Jalan-Kalrock consortium’s ₹1,000-crore plan on October 17. The lenders will get a 9.5% stake in Jet Airways along with 7.5% equity in loyalty rewards firm InterMiles.