Tribunal flags lapse: NCLT seeks updated Power of Attorney from...

Tribunal flags lapse: NCLT seeks updated Power of Attorney from SpiceJet’s lessors; next hearing set for July 3

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The National Company Law Tribunal has stopped insolvency proceedings against SpiceJet. This is due to a question about the validity of a Power of Attorney. Three Ireland-based lessors filed the pleas over a Rs 77 crore default. SpiceJet raised the legal issue. The tribunal has asked the lessors to submit a valid PoA.

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