Ajay Singh-led SpiceJet’s plans to hive off its logistics and cargo business into a separate entity called SpiceXpress faces legal hurdles with lenders and aircraft lessors challenging the move.
One of SpiceJet’s lessor-Goshawk, along with its trustees, has moved the Delhi High Court asking for an injunction on the airline’s plan to transfer any of its assets to a separate company until the airline clears its pending dues of around $16.2 million as lease rentals on three aircraft.
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In its interim order, the Delhi High Court has restrained SpiceJet from alienating the assets worth the amount into a separate company.
“Till further orders, the judgment debtor is restrained from transferring/alienating its assets to the tune of decretal amount,” the order by the Delhi High Court said.
