Jalan-Kalrock fails to pay Rs 150 crore for Jet revival deal

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The revival package worth Rs 4,783 crore proposed by the Jalan-Kalrock consortium for bankrupt Jet Airways seemed to be reaching an impasse, as the Supreme Court declined to extend the deadline of January 31 for the successful bidder to deposit Rs 150 crore. The SC on Jan 18 had permitted Jalan-Kalrock to deposit Rs 150 crore by Jan 31 to keep the resolution plan afloat.

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