SpiceJet insolvency case: NCLT allows lessor to withdraw plea, imposes fine on both Aviator ML & cash-strapped airline

The National Company Law Tribunal allowed Aviator ML to withdraw its insolvency plea against SpiceJet. Both parties faced a fine for late settlement notification to the court. Seven other insolvency petitions filed by aircraft lessors against SpiceJet will be reheard. These ongoing cases continue to pose a significant financial threat to the airline.