SpiceJet has settled a Rs 250 crore dispute with Celestial Aviation, a subsidiary of one of the largest aircraft lessor groups, through negotiations and has avoided the litigation route, the company said in a stock exchange clarification on Wednesday.
The matter is now scheduled to be withdrawn formally on March 1, and both parties have informed the National Company Law Tribunal (NCLT) bench about the settlement.
Two days ago, the airline informed the NCLT that the dispute with Celestial Aviation was “practically settled” and that only formalities remained.
