The Madras High Court has ordered the winding up of low-cost airline SpiceJet and asked the official liquidator to take over the airline’s assets in a case related to non-payment of dues to the tune of $24.01 million to Swiss stock corporation Credit Suisse AG.
Directing winding up of the private carrier, Justice R Subramanian, however, kept his Monday’s order in abeyance for three weeks, if SpiceJet deposits $5 million within two weeks.
