Falgu Aviation Leasing Ltd, an aircraft lessor, has approached the National Company Law Tribunal (NCLT) against SpiceJet Ltd, claiming the airline owes Rs 67 crore in unpaid rental dues for a Boeing 737 it had leased to the carrier.

The lessor has stated that the debt arose from unpaid rent for the aircraft and is seeking legal resolution. SpiceJet has faced several insolvency cases from lessors in recent times, with multiple petitions being filed even as the airline continues to settle pending cases.

Falgu Aviation informed the tribunal that an English court had previously ruled in its favor, determining that SpiceJet was liable for the rental payments. The lessor had also taken the matter to the Delhi High Court to enforce the English court’s judgment. However, a settlement agreement was reached between both parties while the case was still under review in the Delhi High Court, leading to its closure based on the settlement.

The lessor’s counsel clarified that while the settlement only extended the payment timeline, the amount owed by SpiceJet remained unchanged. Despite this agreement, the counsel claimed that SpiceJet had defaulted on the payment schedule.

On the other hand, SpiceJet’s counsel argued that since the debt arose from a settlement agreement, it no longer qualified as an operational debt under the Insolvency and Bankruptcy Code (IBC) of 2016. Furthermore, SpiceJet disputed the amount claimed by the lessor and urged the tribunal to dismiss the petition.

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