The development comes after one of the original litigants, Aviator ML, withdrew its petition following a settlement
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REUTERS
The National Company Law Tribunal (NCLT) will hear afresh seven insolvency petitions filed by aircraft lessors against SpiceJet.
The development comes after one of the original litigants, Aviator ML, withdrew its petition following a settlement with the airline.
The tribunal had prepared a judgment covering eight petitions against SpiceJet.
However, following the withdrawal of the Aviator ML petition, the judgment could not be delivered and the remaining seven matters will now be heard afresh by a new bench.
On its part, SpiceJet welcomed the development, describing the order as a positive step towards resolving the outstanding matters.
“We view the order as a positive step towards resolving the outstanding matters and remain committed to working closely and constructively with our partners to find mutually acceptable solutions,” a SpiceJet spokesperson said.
The airline said it remains focused on rebuilding its operations and restoring its fleet.
“SpiceJet has been through a challenging period and is focused on rebuilding the airline, strengthening its operations and restoring its fleet,” the spokesperson said.
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