Engine Lease Finance BV, an aircraft engine lessor to SpiceJet, has filed an insolvency petition against the airline over a debt exceeding $12 million. ELF claims unpaid dues since April 2021. Various insolvency petitions by other creditors of SpiceJet are also ongoing, with some already settled or dismissed.
JKC chose to withdraw the plea after the appellate tribunal opined that it was not inclined to entertain the plea. NCLAT opined that JKC could not have filed an application before it while an appeal against its order is pending in the Supreme Court.
With the NCLAT upholding the NCLT ruling, this has become the latest case where creditors have been forced to take substantial haircut in bankruptcy cases
The Insolvency Appellate Tribunal NCLAT upheld its Adani Goodhomes resolution plan for Radius Estate. NCLAT rejected petitions from two dissenting financial creditors, and approved the plan to provide possession to nearly 700 flat owners without price escalation. The plan was opposed by Beacon Trusteeship and ICICI Prudential Venture Capital Fund Real Estate, who claimed it was unfair, but NCLAT affirmed the Commercial Creditors Committee s decision.
Jet Airways Insolvency: JKC withdraws plea to put Rs 200 cr in escrow after NCLAT refuses relief dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.