The National Company Law Tribunal (NCLT) on Thursday granted two weeks to aircraft leasing company Aircastle (Ireland) to file a reply to Spicejet’s application questioning the maintainability of the insolvency petition filed by the lessor.
Aircastle (Ireland) had filed a petition under section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to start the corporate insolvency resolution process (CIRP) against Spicejet Ltd on April 28. Spicejet filed an application on June 5, questioning the maintainability of the petition filed under section 60(5) and 10(A) of the IBC, 2016.
The senior counsel appearing for Spicejet claimed two defects in the section 9 petition filed by the lessor pertaining to a valid power of attorney and affidavit.
