Why has NCLT extended the deadline for the Jet Airways revival plan once again?

The National Company Law Tribunal or the NCLT has once again decided to extend the deadline for the revival plan of Jet Airways. It has been extended by one week from 22 March to 29 March so that necessary formalities can be completed by then. This extension is based on the submissions made by the various lenders to Jet Airways and the Kalrock Jalan consortium, which has taken over Jet Airways.

In fact, the deadline was to originally expire on 22nd March, but has now been extended by a week. The NCLT cleared the revival plan for Jet Airways in Jun-21 and since then, the 270 day outer limit for implementation is coming to an end. It is not clear when Jet will start operations and there seems to be no visibility about slots and routes as of now. That still looks some time away.