{"id":273865,"date":"2019-05-13T06:12:07","date_gmt":"2019-05-13T06:12:07","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=273865"},"modified":"2019-05-13T06:12:07","modified_gmt":"2019-05-13T06:12:07","slug":"nclat-dismisses-insolvency-plea-against-spicejet-due-to-lack-of-proof","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclat-dismisses-insolvency-plea-against-spicejet-due-to-lack-of-proof\/","title":{"rendered":"NCLAT dismisses insolvency plea against SpiceJet due to lack of proof"},"content":{"rendered":"<p>The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea for initiation of insolvency proceedings against Spicejet by Ramco Systems Ltd, an operational creditor of the low-cost carrier. A two-member bench headed by Chairman Justice S J Mokhopadhaya upheld the orders passed by the National Company Law Tribunal (NCLT) in this matter saying that it has rightly rejected Ramco\u2019s plea by observing that such petition requires strict proof of debt and default, which was absent in this case.<\/p>\n<p>The appellate tribunal said there was nothing on record to suggest that the demand notice relating to invoices issued by Ramco System was forwarded or received by Spicejet. \u201cFor the reasons aforesaid, no relief can be granted,\u201d said NCLAT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea for initiation of insolvency proceedings against Spicejet by Ramco Systems Ltd, an operational creditor of the low-cost carrier. A two-member bench headed by Chairman Justice S J Mokhopadhaya upheld the orders passed by the National Company Law Tribunal (NCLT) in this matter saying that it has rightly rejected Ramco\u2019s plea by observing that such petition requires strict proof of debt and default, which was absent in this case. The appellate tribunal said there was nothing on record to suggest that the demand notice relating to invoices issued by Ramco [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196,130,138],"tags":[],"class_list":["post-273865","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/273865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=273865"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/273865\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=273865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=273865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=273865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}