SpiceJet reached a settlement with aircraft lessor Aviator ML on Monday over a payment dispute involving around ₹60 crore, but the National Company Law Tribunal (NCLT) deferred its judgment in a batch of eight insolvency petitions against the airline after other lessors opposed the settlement.
SpiceJet informed the NCLT that an agreement had been reached with Aviator ML overnight and that the first tranche of the payment had already been made. The tribunal was scheduled to pronounce its order in the Aviator ML insolvency case on Monday.
However, other lessors argued that the settlement was a “malafide” plea by SpiceJet aimed at blocking the eight insolvency petitions by settling with one creditor. They described the move as SpiceJet’s…