Spicejet and Celestial aviation near settlement

11 Oct 2023 CW Team

Spicejet and Celestial Aviation Services informed the National Company Law Tribunal that they were in the advanced stages of settlement. Celestial Aviation Services had initiated insolvency proceedings against the low-cost airline for a default of $29.9 million for nine aircraft in August. The counsel for Spicejet stated, "We are trying to settle the matter, and most likely, it will get settled." At the request of both counsels, the NCLT deferred the matter to November 7. Spicejet is currently facing insolvency proceedings from two other aircraft lessors, Aircastle (Ireland) and Wilmington Trust SP Services (Dublin), and an engine lessor, Willis Lease Finance Corporation. The airline has argued against the maintainability of all these petitions. Aircastle had previously rejected Spicejet's offer to allocate shares in lieu of its dues. The company had extended a similar offer to multiple lessors, but until now, only Carlyle Aviation Partners, which had the highest exposure to the airline, has agreed to acquire a 5.91% stake.

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..