SpiceJet to appeal winding up order by HC, hopeful of positive decision

The Court on Monday ordered winding up of the airline on a petition filed by Credit Suisse over unpaid dues of $24 million

SpiceJet on Tuesday said it is hopeful of a favourable outcome in its proposed appeal against a winding up petition ordered by the Madras High Court.

The High Court on Monday ordered winding up of the airline on a petition filed by Credit Suisse over unpaid dues of $24 million. The court also directed an official liquidator to take over the assets of the airline. The order was subsequently stayed for three weeks following a plea by the airline and on the condition that it deposits $ 5 million with the court within two weeks.

 “The company is examining the