In a relief to SpiceJet Ltd, the Supreme Court on Friday suspended the Madras High Court’s order on winding-up of the airline company for three weeks time in order to allow the carrier to resolve its issues with regard to non-payment of unpaid dues to the tune of $24.01 million to Swiss stock corporation Credit Suisse AG.
A bench presided over by Chief Justice N V Ramana, however, told the company if it doesn’t want to run airlines, the court would declare it insolvent and order its liquidation.
The HC had stayed the operation of its order, including the publication of the winding-up order for SpiceJet, till Friday so as to allow the airline to move the top court.
