Aircraft lessor Aircastle on Tuesday moved the National Company Law Tribunal (NCLT) with a second plea to start insolvency proceedings against budget carrier SpiceJet for unpaid dues.
Aircastle had filed its first plea in April. The tribunal has asked the lessor’s counsel to present legal precedents of two pleas being filed by one plaintiff in the same case. NCLT will hear the matter on July 17.
Besides Aircastle, pleas by aircraft lessor Wilmington Trust SP Services (Dublin) and engine lessor Willis lease finance are already pending at the tribunal.
The NCLT on May 8 issued a notice on Aircastle’s plea and sought the airline’s response. SpiceJet had accordingly filed a response to the plea. Aircastle had sought a short adjournment on May 25 to respond to the airline’s reply.
SpiceJet had filed an application questioning the maintainability of Aircastle’s plea. The case will be heard on July 17.
On Monday, Wilmington Trust had moved the NCLT against low cost carrier. The hearing in that matter has been deferred to next date.
Last month, the Directorate General of Civil Aviation had deregistered three SpiceJet planes at the lessors’ request, one of which was Wilmington’s.
On May 11, SpiceJet said it is taking steps to revive its grounded fleet using the $50 million it received from the government’s Emergency Credit Line Guarantee Scheme and internal cash accruals.
The carrier has maintained that it has no intention of filing for insolvency and is focused on its business. “Wilmington Trust’s parent is Air Castle. Each of the four aircraft leased by Air Castle had a separate entity. One such aircraft was from Wilmington Trust, an affiliate of Air Castle,” a SpiceJet spokesperson had said on Sunday.