Airline company Spicejet’s difficulties have increased again. The reason for this is three Ireland’s aircraft leasers and a former pilot filed a insolvency petition against the airline at NCLT, claiming lapses. Three aircraft lease companies- NGF Alpha, NGF Genesis and NGF Charlie have filed a petition under Section 9 of the IBC, demanding the initiative proceedings against SpiceJet. The petition claims to be outstanding a total of $ 1.26 million (about Rs 110 crore).
SpiceJet had asked for time
SpiceJet sought some time to resolve the case during the proceedings of the National Company Law Tribunal (NCLT) this week, as the disposal negotiations were going on. The NCLT said in an order that lawyers are present by the operational lender (SpiceJet) and have sought time to obtain instructions about the future action in the case. The tribunal directed to list the three petitions on April 7, 2025 for the next hearing. The lessons had first given five boing 737 leases to SpiceJet. He sent a legal notice to SpiceJet, in which he accused the theft of parts of the aircraft including the engine and using them in other aircraft.
NCLT bench questioned
In addition, in relation to the petition filed by the pilot, the two -member NCLT bench asked whether the claims of the pilot were prohibited under Section 10A of the Insolvency and Debt Recognition Code (IBC). The NCLT said that lawyers are present on behalf of the operational lender and they have specifically sought time to investigate the issue in relation to the projection of Section 10A and the issue of limits in relation to some claim amount. In view of this, the matter should be listed on April 15, 2025.
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