NEW DELHI : In some relief for SpiceJet, the National Company Law Tribunal on Monday dismissed a plea by aircraft lessor Willis Lease Finance Corp. to initiate insolvency proceedings against the cash-strapped airline.
But apart from Willis Lease Finance, three other lessorsCelestial Aviation, Wilmington Trust, and Aircastle Ltdhave similar pleas pending with NCLT to admit SpiceJet into insolvency over unpaid dues.
NCLT has also issued a notice to SpiceJet on a similar plea filed by business consultancy Raymach Technologies Pvt Ltd, which recently moved the tribunal against the airline.
SpiceJet had allocated more than 48 million shares to nine aircraft lessors to clear outstanding dues totaling Rs2.31 billion (about $28 million). T…
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