India’s National Company Law Tribunal will rehear insolvency petitions against SpiceJet after the airline reached a last-minute settlement with aircraft lessor Aviator ML, delaying a ruling that had already been prepared. The batch concerns eight petitions over unpaid dues linked to SpiceJet’s lease disputes, while the carrier’s existing management remains in control during the fresh review.
The tribunal criticised the late disclosure of the settlement, saying it had wasted judicial time, but chose to reopen the matter rather than decide the petitions immediately. The cases will now go before a new bench after the previous member retired, according to one report.
The move keeps pressure on SpiceJet’s liquidity and leasing relationships at a time when the airline has been trying to stabilise its balance sheet. Earlier coverage said the petitions had been pending for years, though the latest reports did not specify the total amount claimed across the lessor cases.