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.

• Shares of Shriram Pistons skyrocketed 9% on Acquiring Antolin Lighting
• Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others
• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban: Bandhan Bank, and Others
• India, Canada Hold Talks to Resume Trade Pact Negotiations

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.