The apex court had nullified the NCLAT order allowing a payment settlement between the two entities

The deal was classified as a 'green channel' and does not raise competition concerns

Directs listing the matter for further orders in the first week of April 2025

The integrated airline will operate over 5,600 weekly flights to more than 90 destinations

The company plans to file an appeal with the appellate authority

The banks had opposed the appellate tribunal’s order of transferring the carrier to winning bidder Jalan Kalrock Consortium

The sanction will not affect the pending actions by government authorities

NCLT Mumbai rules that defaults during the Section 10A period of IBC remain protected, barring insolvency initiation afterward.

The Andhra Pradesh High Court has allowed an assessee to apply for the revocation of GST registration cancellation, which was missed due to insolvency proceedings. The court recognized the need for flexibility to aid business recovery post-insolvency.

The Delhi High Court ruled that it cannot interfere in procedural orders by arbitral tribunals under Articles 226 and 227, affirming limited jurisdiction in arbitration matters.

It will be effective from 12 January, which is 90 days after the circular's issuance

Experts suggest legal ramifications and recourse