We are dealing with an airline; it is not like buying a house. Various extraneous circumstances have to be dealt with, and the SBI has not raised a single finger to help us, senior counsel Mukul Rohatgi argued for JKC.
SBI has created hindrances every step of the way, Rohatgi said.
In response to SBI’s argument that JKC has not complied with conditions precedent in the resolution plan, Rohtagi said that all conditions precedent were complied with as of May 2022.
Notably, SBI has argued that JKC has failed to comply with the conditions precedent in the resolution plan. SBI has contended that the consortium has failed to pay off the workers’s dues, they have failed to get an air operation certificate, and they have failed to get the international traffic rights clearance, which is crucial to running an airline.
Rohatgi said that JKC’s airport slots were taken away because the company was not in the consortium’s control, and the air operation certificate was not renewed for the same reason.
It was argued that the SBI has challenged JKC’s actions before different forums, depriving it of the ability to run the airline. This deliberate action of the SBI led the consortium to lose its 48 airport slots, Rohtagi said.
JKC will continue arguing its case before the court on Oct. 3.