Try GOLD - Free
Fresh insolvency claims crowd SpiceJet's runway
Mint Chennai
|March 07, 2025
New legal battles could further complicate the cash-strapped airline's recovery
SpiceJet Ltd has been hit with fresh insolvency claims from three Ireland-based aircraft lessors and a former pilot over defaults on rental and employment dues, just as the financially-strained airline prepares to revive operations.
Three Irish lessors—NGF Genesis Ltd, NGF Charlie Ltd, and NGF Alpha Ltd—have alleged that SpiceJet defaulted on rental payments, with their combined claims amounting to $12.4 million.
These entities approached the National Company Law Tribunal (NCLT) after previously serving a legal notice to the airline in December, accusing it of theft of aircraft parts, including engines, from five leased Boeing 737 freighter planes. Additionally, a former SpiceJet pilot, Devesh Bbyan, has filed a claim for ₹1.70 crore towards unpaid employment dues for March 2020 to August 2022.
During a brief hearing at the Delhi bench of the insolvency court, SpiceJet sought time to respond as its settlement talks were underway. Consequently, NCLT adjourned its hearing of the lessors' cases until April.
This story is from the March 07, 2025 edition of Mint Chennai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Chennai
Mint Chennai
Iran threatens US, Israel amid protests
Iran's parliament Speaker warned Sunday that the US military and Israel would be \"legitimate targets\" if America strikes the Islamic Republic over the ongoing protests roiling the country, as threatened by US President Donald Trump.
1 min
January 12, 2026
Mint Chennai
Bobcard targets insurance, health in a luxury-led market
As most credit card issuers chase premium experiences and luxury rewards to drive higher spending, Bobcard is betting on healthcare, wellness and insurance-led benefits to carve a niche for itself.
1 mins
January 12, 2026
Mint Chennai
‘The brand is your customer's lived experience’
The CEO of Indian Silk House Agencies on time-boxing and communication
2 mins
January 12, 2026
Mint Chennai
Infosys may lose $150 mn a year from Daimler
Infosys Ltd risks losing over a third of its $400 annual revenue from Daimler, one of its three largest clients, as the German auto giant seeks a new vendor for software and equipment following execution delays, according to two people familiar with the details.
1 min
January 12, 2026
Mint Chennai
Indian Railways eyes rust-resistant rails
The Indian Railways plans to use galvanized steel rails in coastal and high-humidity regions to reduce corrosion and quadruple track life, two people aware of the development said.
2 mins
January 12, 2026
Mint Chennai
India proposes new smartphone security rules
The plan is part of PM Modi’s push to secure user data amid rising online fraud in India
1 mins
January 12, 2026
Mint Chennai
Iran: Oil turmoil?
As urban spaces rage with protests, Iran seems in turmoil again.
1 min
January 12, 2026
Mint Chennai
Clean slate in IBC to be reality soon
Govt accepts panel suggestions, no retrospective application
1 min
January 12, 2026
Mint Chennai
Market braces for turbulence as FPI shorts hit record
Indian markets could turn choppier early this week with foreign portfolio investors (FPIs) raising bearish index futures bets to a record high on Friday, ahead of the US Supreme Court decision this week on the validity of president Donald Trump's tariffs.
1 min
January 12, 2026
Mint Chennai
Making sense of romance in the office
Office relationships aren't accidents; they're built by proximity, cultural constraint and emotional intensity that make bonds feel real
4 mins
January 12, 2026
Listen
Translate
Change font size