More Stories

Informist, Wednesday, Nov. 27, 2024

 

--Aircastle withdraws 2 IBC pleas against SpiceJet in NCLT after settlement 

 

NEW DELHI – Aircastle (Ireland) Ltd. on Wednesday withdrew its two insolvency petitions against SpiceJet Ltd. from the Delhi bench of the National Company Law Tribunal after a settlement was reached between both parties. The tribunal noted that the airline has paid amounts in both the petitions to Aircastle and hence, it allowed the withdrawal of applications.

 

The cases against SpiceJet arose from the non-payment of lease rentals and other dues to its lessor Aircastle. The lessor had filed an insolvency petition claiming an unpaid amount of $6 million in May 2023, while it filed another petition with a $5.6-million debt claim in June 2023. 

 

The tribunal was hearing several insolvency petitions from lessors like Alterna Aircraft V B Ltd., Sabarmati Aviation Leasing Ltd., Aviator ML 29641, and others against SpiceJet. The airline was able to settle some of the cases, whereas Shannon Engine Support Ltd., Raymach Technologies Pvt. Ltd., and others withdrew their petitions.

 

At 1219 IST, shares of SpiceJet were up 1.4% at INR 59.35 rupees on the BSE.  End

 

US$1 = INR 84.47

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Surya Tripathi

Edited by Tanima Banerjee

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.