SpiceJet Faces Fresh Insolvency Proceedings

• SpiceJet Ltd is facing new insolvency proceedings initiated by Aviator ML 29641 Ltd over unpaid dues of ₹58 crore.
• The lessor claims SpiceJet failed to pay rental charges for a Boeing 737. SpiceJet disputes the debt, citing objections.
• The NCLT has directed the lessor to present SpiceJet's reply and scheduled a hearing for November 11.
• SpiceJet is dealing with multiple insolvency petitions from various lessors, but none have been admitted by the NCLT yet.
• Lessors like Wilmington Trust, Willis Lease Finance, and others have approached the tribunal against SpiceJet.

Source: The Economic Times