scorecardresearch
Follow Us:
Thursday, January 27, 2022

Winding up order: Madras HC dismisses SpiceJet plea

A division bench of Justice Paresh Upadhyay and Justice Sathi Kumar Sukumara Kurup extended the suspension of the order till January 28, to enable the airline to move a further appeal before the Supreme Court.

By: ENS Economic Bureau | Chennai |
January 12, 2022 4:00:43 am
Madras HC, SpiceJet, Paresh Upadhyay, SR Technics, India news, Indian express, Indian express news, current affairsThe Madras High Court in Chennai. (File)

The Madras High court on Tuesday dismissed the appeal by SpiceJet against a single-judge order to wind up the low-cost airline on a Credit Suisse AG’s petition relating to non-payment of $24 million to SR Technics, a maintenance and repair company.

A division bench of Justice Paresh Upadhyay and Justice Sathi Kumar Sukumara Kurup extended the suspension of the order till January 28, to enable the airline to move a further appeal before 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 said.

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 right to collect all payments. The order was subsequently stayed for three weeks.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement