Authority: National Company Law Tribunal, New Delhi Court-V (Special Bench)
Order Date: July 15, 2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi heard matter IB-714/ND/2024 between JetAir 17 Limited (Applicant/Operational Creditor) and Spicejet Limited (Respondent/Corporate Debtor). The proceedings were initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016, typically used for initiation of corporate insolvency resolution process by operational creditors. The hearing was conducted in hybrid mode (physical and video conference).
Legal representation was present for both parties. The applicant was represented by Adv Marylou Bilawala, Adv Pranaya Goyal, Ms. Sharleen Lobo, Ms. Saakshi Malpekar, Adv Nehal Gupta, and Mr. Uday Mathur. The respondent SpiceJet was represented by Senior Advocate Krishnendu Datta, Adv Sanjay Gupta, Adv Aditi Pundhir, Ms. Manisha Sharma, Mr. Rishabh Wahi, and Mr. Raghu Aggarwal.
The bench comprising Shri Mahendra Khandelwal (Hon'ble Member Judicial) and Ms. Anu Jagmohan Singh (Hon'ble Member Technical) heard partial arguments from Senior Advocate Krishnendu Datta representing the corporate debtor.
Final Outcome
The tribunal adjourned the matter without passing any substantive orders or making determinations on the merits of the case. The hearing was listed for continuation of arguments on July 23, 2026. The order was signed by both members of the bench.
Topics: Insolvency Proceedings, Aviation Sector, Legal Adjournment