SpiceJet receives notice from NCLT over insolvency plea

SpiceJet has received a notice from the National Company Law Tribunal (NCLT) on an insolvency plea. The plea is filed by one of the SpiceJet creditors, Acres Buildwell, to whom SpiceJet owns INR 32.5 million. The airline has two weeks to respond to the plea. The case is likely to be heard on September 30, 2022. In an order passed on September 2, 2022, the NCLT had granted SpiceJet two weeks to file its reply on the plea as to why insolvency resolution proceedings should not be initiated against the company. As per the latest reports, SpiceJet was in talks