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.

Infrastructure Energy

07 Nov 2025

REC Approves Rs 75 billifor Brookfield’s Hybrid Energy Project

The Rural Electrification Corporation (REC) Ltd, a Maharatna non-banking finance company, has sanctioned Rs 75 billion for Brookfield’s 1,040 MW hybrid renewable energy project in Kurnool district — its largest-ever funding to a private-sector venture.Developed by Evren, a joint venture between Brookfield (51.49 per cent) and Axis Energy, the Rs 99.1 billion project integrates 640 MW of wind and 400 MW of solar power with battery storage. It is India’s first Firm and Dispatchable Renewable Energy (FDRE) project featuring state-level grid connectivity and a dedicated power purchase agreem..

Piyush Goyal Boosts India–New Zealand Trade Ties

Union Minister of Commerce and Industry, Shri Piyush Goyal, is on an official visit to New Zealand to strengthen bilateral economic and trade relations between the two nations. The fourth round of India–New Zealand Free Trade Agreement (FTA) negotiations is currently underway in Auckland from 3 to 7 November 2025. At the India–New Zealand Business Forum, organised by the Auckland Business Chamber, Shri Goyal joined Hon. Todd McClay, Minister for Trade of New Zealand, for a Fireside Chat moderated by Mr Simon Bridges, CEO of the Auckland Business Chamber. Opening the session, Shri Goyal r..

India, Romania Strengthen Trade and Industry Cooperation

Minister of State for Commerce and Industry, Shri Jitin Prasada, led the Indian business delegation at the India–Romania Business Forum, organised by the Chamber of Commerce and Industry of Bra?ov (CCIBv) in partnership with the Embassy of India in Bucharest and the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India. The engagement focused on expanding bilateral investment and industrial cooperation between the two countries, bringing together business leaders from key sectors such as automotive, aerospace, defence, renewable energy, engineering services, a..