SpiceJet, a low-budget airline, has filed an insolvency plea against its debt-ridden debtor, Engine Lease Finance BV, over non-payment of over USD 12 million. ELF has leased eight engines to SpiceJet and has claimed around USD 16 million in interest and rental. The matter was listed before the Delhi-based bench of the National Company Law Tribunal (NCLT), where SpiceJet was directed to file its response. ELF, the world's leading independent engine financing and leasing company, has previously approached the Delhi High Court after terminating a lease for two engines.
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