SpiceJet Faces More Insolvency Petitions, NCLT Issues Notices

New Delhi, Nov 18 (PTI) 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 another complainant, JetAir 17, to file additional documents in support of its claims of USD 27 million.

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 the plea of JetAir 17 contending that their claims as an operational creditor are disputed.

In the matter of JetAir 17, the NCLT asked the company to file additional documents to support its claims as SpiceJet contended that it has not entered into a lease agreement with it.

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 the low-cost carrier owes them over USD 27 million. He further submitted that Wilmington had transferred its interest in the lease with SpiceJet to JetAir 17, after which it filed its claim here.

Earlier in September, the NCLT issued notices to SpiceJet over a plea by Techjockey Infotech, an operational creditor, claiming a default of nearly Rs 1.2 crore against software services availed by the low-cost air carrier.

In October, NCLT issued notices to Spicejet over pleas of aircraft lessor Falgu Aviation Leasing and Aviator ML 29641.

SpiceJet 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.