SpiceJet insolvency case: NCLT allows lessor to withdraw plea, imposes fine on both Aviator ML & cash-strapped airline

The National Company Law Tribunal (NCLT) has allowed aircraft lessor Aviator ML to withdraw its insolvency plea against SpiceJet after the two sides reached a settlement, ET Now reported.

The tribunal, however, imposed a fine on both parties for informing it about the settlement after the case had reached the stage of final orders.