Two more insolvency pleas filed against SpiceJet
Two more insolvency petitions were filed by Sabarmati Aviation and JetAir 17 against budget carrier Spicejet at the National Company Law Tribunal (NCLT) on Monday.
The NCLT issued a notice to the airline over the plea by operational creditor Sabarmati Aviation, while asking JetAir 17 to file additional documents in support of its claims of USD 27 million as SpiceJet contended that it has not entered into a lease agreement with it.
During the proceedings, senior advocate Krishnendu Datta, representing SpiceJet, submitted that a reply would be filed over the plea of Sabarmati Aviation. However, he opposed JetAir 17's plea contending that their claims as an operational creditor are disputed.
JetAir 17, an Irish company, operates within the renting and leasing of air passenger transport equipment industry. Dutta submitted that JetAir 17 is claiming its dues through Wilmington Trust, which had leased planes to SpiceJet. However, there are no documents to show how JetAir 17 has inherited the interest from Wilmington.
Advocate Kunal Tandon, representing JetAir 17, submitted to NCLT that Wilmington had transferred its interest in the lease with SpiceJet to JetAir 17.
SpiceJet has recently faced several insolvency petitions from creditors, including Willis Lease, Aircastle Ireland Ltd, Wilmington and Celestial Aviation at NCLT and the appellate tribunal NCLAT. Several of them are still pending.
