Court adjourns insolvency bid against India’s SpiceJet
29.05.2023 – 06:09 UTC
India’s National Company Law Tribunal (NCLT) has again adjourned an insolvency application lodged by Aircastle against SpiceJet. On May 25, the Delhi bench of the NCLT deferred the matter of Aircastle (Ireland) Limited vs SpiceJet Limited to June 1. It was the second adjournment this month.
Claiming SpiceJet owes it INR490 million rupees (USD5.9 million), Aircastle is attempting to have the embattled airline declared insolvent under s.9 of India’s Insolvency and Bankruptcy Code (IBC) after talks between the two parties failed to produce a mutually agreeable outcome
On May 8, after Aircastle filed its petition, the NLCT gave SpiceJet nine days to respond to …
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