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Insolvency case filed against SpiceJet due for hearing at National Company Law Tribunal next week

Lessor Aircastle (Ireland) Limited has filed insolvency petition on April 28 to be heard by NCLT principal bench on May 8

Our Special Correspondent New Delhi Published 06.05.23, 04:37 AM
Representational image.

Representational image. File photo

An insolvency case against SpiceJet is due for hearing at the National Company Law Tribunal (NCLT) next week.

Lessor Aircastle (Ireland) Limited has filed the insolvency petition on April 28 to be heard by the NCLT principal bench on May 8.

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A SpiceJet spokesperson said at present, there are no aircraft from this lessor in the airline’s fleet.

The development will in no way affect its operations, the spokesperson added.

“All aircraft from this lessor have already been returned by SpiceJet...

“We are confident of resolving the matter without court proceedings and we are in discussions with their senior leadership team for the same,” the spokesperson said in a statement.

According to the NCLT website, two more petitions for insolvency resolution proceedings against SpiceJet are pending.

The plea by Willis Lease Finance Corporation was filed on April 12 and the one by Acres Buildwell Private Ltd was filed on February 4.

Shares of SpiceJet declined 2 per cent to close at Rs 31.93 apiece on the BSE on Friday.

There was no immediate comment from SpiceJet on the two petitions.

Meanwhile, the CBI on Friday conducted searches at seven locations including the premises of Jet Airways and its founder Naresh Goyal in Mumbai in connection with an alleged Rs 538-crore fraud case in Canara Bank, officials said.

The CBI searches across Mumbai also covered the residences and offices of Goyal’s wife Anita, and former airline director Gaurang Ananda Shetty.

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