Murari Lal Jalan, a resident of Ranchi, will be the new owner of Jet Airways, the airline company stuck in debt. London’s Kalrock Capital and United Arab Emirates (UAE) investor Murari Lal Jalan’s company will be the new owners of Jet Airways. Murari Lal Jalan’s company is currently working in infrastructure, real estate, mining and tourism sectors. He is owner of MJ Developers in the UAE and has business spread in countries including Russia, Brazil, India, Dubai and Uzbekistan.
Jet Airways had closed a year ago due to financial crisis. On Saturday, the Jet Airways Lenders Committee approved the proposal from Britain’s Kalrock Capital and United Arab Emirates’ Murari Jalan as part of the bankruptcy resolution process. Reportedly, the airline had received proposals from two groups. Jet Airways solutions professional (RP) Ashish Chavcharia said in the BSE filing that the plan was approved after e-voting on the proposal.
Murari Lal Jalan owning Jet Airways is a matter of pride for Ranchi. He had started business from Ranchi itself. His elder brother Narayan Jalan lives in Ranchi while younger brother Vishal Jalan lives in Dubai with him. In 1990, Murari Lal Jalan started Express Photo in the GEL Church Complex. In 1991-92, he went to Russia and took distribution of Konica. After staying in Russia for a few years, he came to Dubai.
