Authority: National Company Law Tribunal, New Delhi Court-V (Special Bench)
Order Date: 15 July 2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi heard matter IB-711/ND/2024 under Section 9 of the Insolvency and Bankruptcy Code (IBC). The proceedings involve Falgu Aviation Leasing Limited as the applicant/operational creditor versus Spicejet Limited as the respondent/corporate debtor. The hearing was conducted in hybrid mode (physical and video conference). Senior Counsel Krishnendu Datta, along with advocates Sanjay Gupta and others, presented arguments on behalf of the corporate debtor (Spicejet). The operational creditor was also represented by counsel.
Final Outcome
The special bench comprising Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Ms. Anu Jagmohan Singh adjourned the matter for continuation of arguments. The case is now listed for hearing on 23 July 2026. No substantive decision on the insolvency petition was made in this order.
Topics: Corporate Insolvency, Aviation Sector, Legal Proceedings