Unpaid Dues
Aviator ML files insolvency plea against SpiceJet, NCLT to hear Nov 11
This story was originally published at 13:20 IST on 14 October 2024
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--Aviator ML files insolvency plea against SpiceJet in NCLT
--Aviator ML claims dues of INR 586.45 million from SpiceJet
--NCLT to hear Aviator ML's plea against SpiceJet on Nov 11
NEW DELHI – Aviator ML 29641 Ltd. on Monday filed an insolvency petition against SpiceJet Ltd. for unpaid dues of INR 586.45 million from the airline. The National Company Law Tribunal will hear the case on Nov. 11.
In 2010, SpiceJet entered into an aircraft lease agreement with MCAP Europe Ltd. regarding one Boeing model 737-800 aircraft. In 2017, the aircraft was sold by MCAP Europe to Aviator ML. Consequently, the original lease agreement was modified on the same terms and conditions.
Aviator ML said its claim relates to the lease rental of aircraft. It said that the Section 8 notice under the Insolvency and Bankruptcy Code, 2016, was sent to SpiceJet. The tribunal asked Aviator ML to file SpiceJet's reply to the Section 8 notice. At 1202 IST, shares of SpiceJet were down 1.0% at 66.60 rupees on the BSE. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Surya Tripathi
Edited by Namrata Rao
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