Report Wire - Winding up order: Madras HC dismisses SpiceJet plea

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Winding up order: Madras HC dismisses SpiceJet plea

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Madras HC, SpiceJet, Paresh Upadhyay, SR Technics, India news, Indian express, Indian express news, current affairs

The Madras High court docket on Tuesday dismissed the enchantment by SpiceJet towards a single-judge order to wind up the low-cost airline on a Credit Suisse AG’s petition regarding non-payment of $24 million to SR Technics, a upkeep and restore firm.
A division bench of Justice Paresh Upadhyay and Justice Sathi Kumar Sukumara Kurup prolonged the suspension of the order until January 28, to allow the airline to maneuver an additional enchantment earlier than the Supreme Court. “Since we have not entertained these appeals, there is nothing to be stayed so far this order is concerned. However, with a view to see that challenge if any to this order remains meaningful to the appellant, the stay granted by the company court which is in force till today shall stand extended till January 28,” the bench mentioned.
The HC had on December 6 ordered the winding up of SpiceJet on a petition filed by Credit Suisse, to whom SR Technics had given the suitable to gather all funds. The order was subsequently stayed for 3 weeks.