NCLT issues notice to SpiceJet in another insolvency plea over $5 million default

The National Company Law Tribunal (NCLT) issued a notice to SpiceJet in an insolvency plea filed by Sabarmati Aviation over a $5 million default. This is the third insolvency notice issued to SpiceJet since October 2024. The airline is facing multiple insolvency petitions due to defaults on lease payments. SpiceJet’s legal team argued that the airline would respond to the plea, while the NCLT directed another lessor, JetAir 17, to provide documents proving its claim. The case highlights the financial challenges faced by SpiceJet and the increasing scrutiny from creditors. The NCLT’s involvement aims to ensure that the airline addresses its financial obligations and resolves disputes with lessors.