SpiceJet Receives Relief as NCLT Dismisses Insolvency Plea by Willis Lease

In a significant victory for low-cost carrier SpiceJet, the National Company Law Tribunal (NCLT) rejected an insolvency petition filed by aircraft lessor Willis Lease Finance Corporation on Monday. The US-based lessor had claimed pending dues from SpiceJet. The two-member NCLT bench based in Delhi dismissed the plea after SpiceJet questioned the validity of the petition.

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