The NCLT has adjourned the Spicejet case to November 7, owing to the talks but sources close to the development say that the parties have reached a settlement.
On Wednesday, 2349 stocks advanced, 1339 declined and 134 remained unchanged, with an advance decline ratio of 1.75 on the Bombay Stock Exchange (BSE), indicating negative closing of stocks in broader markets.
Celestial is the fifth lessor to move an insolvency plea against SpiceJet. Pleas by lessors such as Willis Lease Finance, Aircastle and Wilmington are already pending at the NCLT
India Business News: Budget carrier SpiceJet and aircraft lessor Celestial Aviation are working towards settlement, which is in the advanced stage, insolvency tribunal NCL