SpiceJet gets 3 weeks to settle Credit Suisse dispute

The Supreme Court on Friday granted three weeks’ time to SpiceJet Ltd to resolve its dispute with Credit Suisse AG and stayed the Madras High Court’s order that allowed a winding up of the low-cost airline.

The BSE-listed SpiceJet has challenged the Madras High Court order of January 11, allowing the winding-up petition filed by Credit Suisse against the company for default of about $24 million. The High Court had also directed the official liquidator to take over the assets of SpiceJet.