Will UAE-based investor Murari Lal Jalan be a saviour for India’s grounded Jet Airways?

Will UAE-based investor Murari Lal Jalan be a saviour for India’s grounded Jet Airways?

A consortium comprising UAE-based investor Murari Lal Jalan, known mainly for his company M J Developers, and London-based asset management company Kalrock Capital, is understood to have been selected to take over India's grounded Jet Airways by the airline's creditors.

Airline industry sources have indicated that the call on approval for the Jalan-Kalrock Capital consortium's revival proposal could have been taken at the State Bank of India (SBI)-led Committee of Creditors (CoC) to Jet Airways at its meeting on Wednesday.

SBI-led creditors committee to the grounded carrier extends the deadline for bid submission to March 10 to accommodate new bidders

When contacted, Igor Starha, managing partner of Kalrock Capital, told Arabian Business in an email reply: “We do not comment on any rumours or speculations and have no comments to make on the