The National Company Law Tribunal (NCLT) issued a notice to SpiceJet on Monday asking them to respond to a plea alleging unpaid debts.
Budget airline SpiceJet has received a notice from the National Company Law Tribunal (NCLT) on Monday after an aircraft lessor filed a petition seeking to initiate insolvency resolution proceedings against the company. The next hearing for the case is scheduled for May 17, according to the PTI. Aircastle (Ireland) Ltd. submitted the petition.
According to the PTI report, a two-member Principal bench of the NCLT headed by President Ramalingam Sudhakar issued the notice to SpiceJet and directed to list the matter on May 17 for the next hearing. A SpiceJet spokesperson said that in the Aircastle issue, notice was issued in normal course. "There was no adverse ruling against SpiceJet. The court has recognised the fact that parties are under settlement discussions and they can continue to pursue the same," he said.

The most recent development also occurs at a time when rival Go First, who is in financial trouble, has requested voluntary insolvency resolution procedures. On April 28, Aircastle filed a complaint against SpiceJet.
SpiceJet said last week that it had no Aircastle-made aircraft in its fleet and that the petition's filing would have no bearing on how the airline operated. There are now two more petitions for insolvency resolution actions against SpiceJet on the NCLT website.
More From GoodReturns

Crash in Gold Rate in India by Rs 71,400 in Single Day; Will Gold Price Today Fall Below Rs 1.50 Lakh? Outlook

Gold & Silver Rates Today Live: MCX Gold Crashes By Rs 5,645, Silver Falls By Rs 16,540; 24K, 22K, 18K Gold

1:5 Split Soon? Vedanta Ltd To Consider 3rd Interim Dividend On March 23, Share Jumps; Record Date & Buy Call

Sleeper Vande Bharat Express New Routes Identified for Long Distance Travel

Gold & Silver Rates Today Live Updates: Will 24 Carat, 22 Carat, 18 Carat See Bullish Week Ahead?

Mega Gold Price Crash Alert! 24K Sinks Rs 1.36 Lakh/100 Gm In Week; Silver Sees Losses | March 23-27 Outlook

Gold & Silver Rates Today Live: MCX Gold Ends Above Rs 1.40 Lakh, Silver Up 1%; 24K, 22K, 18K Gold On March 24

Gold Rate Crashes Over Rs 1 Lakh in Single Day, Slips to Lowest Since January; Will Gold Price Today Decline?

Gold Price Crash May Fuel Jewellery Demand: Why Kalyan Jewellers Share Price Could Shine Despite 5% Dip

Fatal Crash In Gold Rates In India By Rs 1,03,200/100 Gm; Biggest Single-Day Fall In 24K, 22K, 18K Gold Prices

Gold Rates In India Crash By Rs 29,400 On March 21 After Spot Gold Hits Weakest Week; 24K, 22K, 18K Gold Price



Click it and Unblock the Notifications