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In a major setback for SpiceJet, the Delhi HC has issued orders summoning the CEO and COO of SpiceJet, after failing to comply with an earlier order to pay $6 million to engine lessor Team France. The company records reflect Ajay Singh as the Chairman and MD. CNBC-TV18 checked with the airline on the posts of CEO and COO and learnt that both positions are lying vacant.
In May 2024, the Del HC passed a consent order, directing payment of $6 million by SpiceJet to Team France. The consent order was passed after the airline had agreed to cough up the sum.
In the latest hearing, SpiceJet counsels had sought an adjournment. Frustrated by the delays, the Del HC issued directions to the CEO and COO of the airline to appear, in person, before the court at the next date of hearing. The HC rejected a request from the airline’s counsel to allow a virtual hearing and insisted that the CEO and COO be present, in-person.
Team France is claiming a total of $24.7 million in unpaid dues on account of three engines that were leased to the airline. As per the HC orders, the three engines have been released by the airline and returned to the lessor. Team France is now seeking recovery of unpaid dues.
The lessors were represented by Rajshekhar Rao as the senior advocate, Anandh Venkataramani as counsel and Saket Satapathy, a partner with Tuli and Co.
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In May 2024, the Del HC passed a consent order, directing payment of $6 million by SpiceJet to Team France. The consent order was passed after the airline had agreed to cough up the sum.
In the latest hearing, SpiceJet counsels had sought an adjournment. Frustrated by the delays, the Del HC issued directions to the CEO and COO of the airline to appear, in person, before the court at the next date of hearing. The HC rejected a request from the airline’s counsel to allow a virtual hearing and insisted that the CEO and COO be present, in-person.
Team France is claiming a total of $24.7 million in unpaid dues on account of three engines that were leased to the airline. As per the HC orders, the three engines have been released by the airline and returned to the lessor. Team France is now seeking recovery of unpaid dues.
The lessors were represented by Rajshekhar Rao as the senior advocate, Anandh Venkataramani as counsel and Saket Satapathy, a partner with Tuli and Co.
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