Supreme Court agrees to hear Spicejet plea against High Court order to wind up airline

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The Supreme Court has agreed to hear low-cost airline Spicejet’s plea against the Madras High Court order to wind up the company.</p>
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Senior advocate Mukul Rohatgi pleaded before the apex court that if the matter was not heard urgently, the proceedings to wind up the airline would begin on January 28.</p>
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After this, the Chief Justice of India (CJI) agreed to hear the matter. The matter is likely to be heard on Friday.</p>
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A single bench of the Madras High Court had on December 7 ordered the winding up of Spicejet Ltd on a petition filed by Credit Suisse AG, a Switzerland based Stock Corporation and a creditor, who alleged that SpiceJet is unable to pay the debts owed to the firm.</p>
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The matter pertains to a decade-long standoff between the two entities over unpaid dues by Ajay Singh-led Spicejet of close to Rs 180 crore.</p>
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The court had agreed to put a stay on the operation of winding up till January 28 so that the budget airline could approach the Supreme Court on the matter.</p>