NCLT asks SpiceJet to file reply to Aircastle's petition in 15 days
The National Company Law Tribunal (NCLT) has directed SpiceJet to respond within 15 days to Aircastle's insolvency petition. The tribunal will examine if the power of attorney holder can represent an operational creditor in a corporate insolvency resolution process (CIRP) petition. SpiceJet's counsel questioned the maintainability of the petition, arguing that multiple petitions against the same corporate debtor are not allowed under the Insolvency and Bankruptcy Code, 2016.