The National Company Law Tribunal (NCLT) dismissed Wilmington Trust SP Service’s (Dublin) Ltd insolvency petition against Spicejet Limited. Spicejet argued that Wilmington was not the corporate debtor and had no right to file the petition. The counsel for Wilmington provided a document from the civil aviation regulator to establish ownership rights. Spicejet is also facing insolvency petitions from Celestial Aviation Sevices Ltd, Aircastle (Ireland) Ltd, and Raymach Technologies. The Delhi High Court directed Spicejet to pay $4 million to its engine lessors. Last week, Spicejet raised Rs 744 Crore as part of its refinancing plan.
