SupremeCourt Stays Winding Up Order Against SpiceJet [28-01-2022]

SupremeCourt Stays Winding Up Order Against SpiceJet

• The Madras High Court single judge bench last month directed the official liquidator to take over the assets of the airline for liquidation.
• On Jan. 11, the division bench dismissed SpiceJet’s appeal challenging the single judge bench order.
• Supreme court will next take up SpiceJet’s appeal after three weeks.
• Senior Advocate Harish Salve for SpiceJet sought an adjournment from the top court
• Salve said the airline will attempt to settle the dispute with Credit Suisse which had filed the winding up petition in Madras High Court
• Credit Suisse’s lawyer told the bench the present offer by SpiceJet was not worth mentioning.
• This is not the way to run the airline. If you don’t want to then we will declare you insolvent, CJI Ramana observed before adjourning the case

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