The representatives of SpiceJet and Celestial Aviation informed a bench of the National Company Law Tribunal (NCLT) last week that settlement terms had been reached and requested an adjournment. The tribunal granted the adjournment. “The matter is now scheduled to be formally withdrawn on 1st March, 2024,” the airline noted.
SpiceJet had announced on February 22 that it had raised a second tranche of Rs 316 crore under the preferential issue of equity and warrants, which was approved by shareholders in early January. On January 26, the first tranche of Rs 744 crore was infused into the airline.
