SpiceJet settles ₹250 crore dispute with aircraft lessor Celestial Aviation, ET LegalWorld
Airline operator SpiceJet and Celestial Aviation, a subsidiary of AerCap, one of the largest aircraft lessor groups, have mutually settled their USD 29.9 million (Rs 250 crore) dispute through amicable negotiations, avoiding litigation. The representatives of both parties informed a bench of NCLT last week that settlement terms had been reached, and thus requested an […]
SpiceJet shares in focus after Delhi HC summons CEO, COO over non-payment of dues, ET LegalWorld
SpiceJet shares will remain in focus on Tuesday after the Delhi High Court directed the airline’s CEO and COO to appear in court over non-compliance with a payment of $603,870 to aircraft engine lessors. Justice Manmeet PS Arora denied SpiceJet’s request for virtual attendance, ordering both executives to appear in person on January 16, 2025. […]
Aircastle drops insolvency case against SpiceJet for $5 mn, ET LegalWorld
Aircraft lessor Aircastle (Ireland) has withdrawn its insolvency case against SpiceJet filed with the National Company Law Tribunal (NCLT). The case was dropped after both parties reached a mutually agreed settlement, reflecting SpiceJet’s ongoing efforts to resolve financial disputes and rebuild trust with its partners. The airline resolved the $23.39 million dispute with Aircastle and […]
Two more insolvency pleas against SpiceJet, NCLT issues notice over Sabarmati Aviation plea, ET LegalWorld
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 […]
SpiceJet faces major setback with the Delhi High Court delivering Judgment in Haj Contract case, ET LegalWorld
In a significant judgment passed on September 30, 2024, the Delhi High Court held that the Plaintiffs, two aviation service providers, are entitled to a sum of approximately Rs. 12 Crores. This ruling concludes a gruelling 8-year legal showdown, sparked by the airline’s unjust termination of the Plaintiffs’ engagement for the 2016 Haj Operations—a move […]
DGCA removes SpiceJet from enhanced surveillance regime, Legal News, ET LegalWorld
Aviation regulator DGCA on Tuesday said it has removed SpiceJet from enhanced surveillance regime in the wake of the airline taking actions to rectify deficiencies as well as raising funds to meet obligations. On September 13, the Directorate General of Civil Aviation (DGCA) placed the budget carrier under the enhanced surveillance regime following financial constraints […]
SpiceJet faces yet another insolvency proceeding by lessor, Legal News, ET LegalWorld
SpiceJet Ltd is staring at fresh insolvency proceedings initiated by aircraft lessor Aviator ML 29641 Ltd over unpaid dues amounting to ₹58 crore. The lessor claimed that the low-cost airline failed to pay rental charges for a Boeing 737 that it had leased. SpiceJet’s counsel said that the airline has disputed the debt, arguing that […]
Bkp Enterprise & Anr vs Spicejet Limited on 30 September, 2024
Delhi High Court Bkp Enterprise & Anr vs Spicejet Limited on 30 September, 2024 Author: Neena Bansal Krishna Bench: Neena Bansal Krishna * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 10th April, 2024 % Pronounced on: 30th September, 2024 + CS(COMM) 1118/2016 1. BKP ENTERPRISE A Proprietary concern, Through Mr. Bharat […]
Delhi Police EOW files case against SpiceJet MD, others over PF dues, ET LegalWorld
In fresh trouble for embattled carrier SpiceJet, the Economic Offence Wing (EOW) of the Delhi Police has filed a case against its Managing Director Ajay Singh and other top officials for cheating and criminal conspiracy by failing to remit its share of provident fund (PF) of more than Rs 65.7 crore. The FIR, filed on […]
NCLT issues notice to SpiceJet over insolvency plea from another operational creditor, ET LegalWorld
The National Company Law Tribunal (NCLT) on Monday issued a notice to embattled low-cost carrier SpiceJet over a petition by Techjockey Infotech Pvt Ltd, one of its operational creditors. Software solutions startup Techjockey Infotech filed an insolvency case against cash-strapped airline SpiceJet for an alleged default of around Rs 1.18 crore. The petition was filed […]