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NCLT to hear lessors' pleas for SpiceJet insolvency in August
July 18, 2023
|Mint Mumbai
The National Company Law Tribunal (NCLT) has postponed the hearing of insolvency pleas against budget carrier SpiceJet, granting the airline 10 days to file a rejoinder. The pleas were filed by aircraft lessors Aircastle of Ireland and Wilmington Trust. The court is scheduled to hear the Aircastle case on 8 August, and Wilmington Trust's plea on 17 August.
During the hearing, NCLT questioned the aircraft lessors for filing multiple petitions for the same claim.
In response, Ritesh Singh, Wilmington Trust's counsel, said that the multiple petitions were for the sake of clarity and simplicity. Besides, he argued that there is no prohibition on filing multiple petitions, given that each default in payment requires a separate plea.
هذه القصة من طبعة July 18, 2023 من Mint Mumbai.
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