SpiceJet faces insolvency threat ...Middle East

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SpiceJet faces insolvency threat
  Engine Lease Finance Files Insolvency Plea Against SpiceJet Over Unpaid DebtEngine Lease Finance BV (ELF), a leading aircraft engine lessor of SpiceJet, has filed an insolvency petition before the National Company Law Tribunal (NCLT) in Delhi, citing SpiceJet’s non-payment of over USD 12 million (approximately INR 100 crore). ELF has leased eight engines to SpiceJet and claims an additional USD 4 million in interest and rental.The matter was heard briefly by a bench of the NCLT comprising Mahendra Khandelwal and Sanjeev Ranjan on Wednesday. SpiceJet’s counsel sought time to respond to the petition, prompting the bench to direct SpiceJet to file its response. ELF, headquartered in Shannon

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