NCLAT dismisses Ramco's appeal against Spicejet for insolvency proceedings

The tribunal has allowed Ramco System to move before a court of competent jurisdiction for appropriate relief.

The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by Ramco Systems against SpiceJet related to alleged non-payment of dues by the airline company for software solutions it got according to an agreement. The tribunal has allowed Ramco to move a court of competent jurisdiction for appropriate relief.

“We are studying the order and will be taking appropriate actions after due consultations. The principal amount claimed from SpiceJet is Rs 2.99 crore,” said a Ramco spokesperson.

The order comes on an appeal Ramco had filed against an order by the National Company Law Tribunal’s (NCLT) New Delhi Bench,