Cash-strapped SpiceJet is exploring the possibility of settling with tech service provider Raymach Technologies, the low-cost airline told the National Company Law Tribunal on February 8. The airline allegedly owes Rs 2.7 crore to the firm.
Raymach Technologies Private Limited, however, opposed the airline’s plea to defer the hearing and urged NCLT to ask Spicejet to respond to its insolvency plea that was filed three months ago.
NCLT directed SpiceJet to file a response and the case will likely be heard in the first week of March.
The tribunal had in November issued notice to SpiceJet in Raymach's plea.
It periodically provided technical support staff to SpiceJet over the last four years, it said. Raymach sent invoices to SpiceJet and the airline didn’t dispute them, Raymach lawyer Bharat Arora said.
When Raymach sent a notice under the Insolvency and Bankruptcy Code (IBC), SpiceJet denied availing its services, Arora said, as he shared companies’ correspondence with NCLT.
SpiceJet owed Raymach Rs 2.7 crore.
correspondences between SpiceJet and them, he further cited the instances where SpiceJet had acknowledged Raymach's employees being deployed in their offices.
Insolvency pleas against SpiceJet
Raymach's insolvency plea one of the six such petitions filed against SpiceJet in NCLT, Delhi.
Four aircraft lessors filed five insolvency pleas against SpiceJet in 2023 over non-payment of dues.
Aircastle Ireland Ltd, Willis Lease Corporation, Wilmington and Celestial have asked NCLT to admit SpiceJet to the insolvency process to enable them to recover their dues.
While the NCLT has issued notice only in Aircastle's first plea, it has been urging the airline to settle with the lessors. NCLT has dismissed pleas by Wilmington and Willis Lease Finance, while other pleas remain pending.
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