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Acres Buildwell filed the insolvency plea in September 2022, on the ground that SpiceJet owed outstanding dues to the tune of Rs 3.25 crore. The NCLT had sought SpiceJet's response to the plea and issued notice to the airline.
SpiceJet's Chairman & Managing Director Ajay Singh has refuted rumours it the airline was preparing to file for bankruptcy, adding that management is in the process of reviving its grounded fleet with funds from the Indian government’s ECLGS. The statement comes after the airline received a notice from NCLT pertaining to a case brought by lessor Aircastle (Ireland) over alleged non-payment of dues. The move follows two pleas against SpiceJet from Wills Lease Finance Corporation and Acres Buildwell., Companies News, Times Now
SpiceJet has received a notice from the NCLT regarding an insolvency proceedings plea filed by Aircastle (Ireland), leading to a share price slide. The stock has declined by 5.7% from May 8 to Rs 29.77 now. The airline already faces two additional insolvency resolution proceedings filed against it with the NCLT. , Companies News, Times Now