On 19 November, judicial member Mahendra Khandelwal of the Delhi bench of the NCLT (National Company Law Tribunal) pulled up Engine Lease Finance B.V., the engine lessor of budget airline SpiceJet, for keeping a settlement pending in the IBC forum to leverage settlements with the airline.
“Both the Ld. Counsels submitted that the parties are trying to settle the matter amicably therefore, sought time. Pleadings are complete. The adjournment on the similar ground was sought on the last date of hearing i.e. 08.10.2024. Last opportunity is given to the parties to either settle the matter, failing which the matter will be proceeded as per law,” the NCLT order stated.
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