Aircastle of Ireland and Wilmington Trust, two aircraft lessors, filed insolvency claims against SpiceJet, and the National Company Law Tribunal (NCLT) postponed the hearing on those claims on August 8. SpiceJet was given 10 days by the court to respond to the pleas. The lessors stated that the multiple petitions were for clarity and simplicity and that there is no ban on submitting multiple petitions when each payment default necessitates a separate plea when the NCLT questioned them about filing multiple petitions for the same claim.
August 8 is the day set for the Aircastle case hearing, and August 17 is set aside for the Wilmington Trust plea. The senior attorney for Aircastle stated that because they are the only petitioner for whom the court has issued a notice and the pleading process has been completed, their petition should be given precedence.
SpiceJet’s Krishnendu Dutta, a senior attorney, contested the validity of three concurrent pleas made by a single petitioner and asked the court to give him or her 10 days to respond to the lessors’ reply.
On July 21, NCLT will also make a determination about the maintainability of the insolvency plea brought forth by Willis Lease Finance Corp., which had leased engines to SpiceJet.
Source- Travel biz