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‘This Isn’t the Way to Run Airlines’: Supreme Court to SpiceJet While Staying Publications of Madras HC’s Winding Up Order

Team SoOLEGAL 28 Jan 2022 4:15pm

‘This Isn’t the Way to Run Airlines’: Supreme Court to SpiceJet While Staying Publications of Madras HC’s Winding Up Order

NEW DELHI: The Supreme Court on Friday stayed the publication of the Madras High Court’s winding – up order against SpiceJet Ltd. However, a bench led by India’s Chief Justice made some critical remarks about SpiceJet.

Senior Advocate Harish Salve, appearing for SpiceJet, requested an extension of three weeks, stating that they are negotiating with the creditor credit Suisse AG, a Swiss – based stock Corporation, on whose petition the High Court issued the order.

“They are saying they want to make a serious offer. They can have three weeks. What’s being offered now is not even worth mentioning,” told the bench by Senior Advocate KV Vishwanathan, appearing for the creditor.

“Mr. Salve, what is this?” CJI asked.

“Mr. Salve you want to run or close the show? Better why don’t you produce your financial status? This isn’t the way you can run your airlines. What is your contribution? It’s a serious matter, if they (SpiceJet) don’t want to run airlines we’ll declare insolvent and go for liquidation,” CJI Ramana told Salve.

The Bench, which also included Justices AS Bopanna and Hima Kohli, issued the following order:
“Senior Counsel for petitioner seeks time to resolve matter. Mr. Vishwanathan agrees to adjournment. Adjourned for 3 weeks, publication order stayed for 3 weeks.”

On December 07, 2021, a single bench of the Madras High Court ordered the winding up of SpiceJet Ltd. in response to a company petition filed by Credit Suisse AG, a Switzerland – based Stock Corporation and a creditor, who alleged respondent Airlines’ inability to pay debts owed to the former. The assets of the company were ordered to be taken over by the official Liquidator by a single bench of Justice R. Subramanian. The order, however, was put on hold for two weeks.

SpiceJet later filed an appeal with the Division Bench. SpiceJet’s appeal was dismissed on January 11th, by a Division Bench of Sathi Kumar Sukumara Kurup and Paresh Upadhyay. The Division bench also postponed the order until January 28th.

SpiceJet’s special leave petition for urgent listing was mentioned before the CJI on January 25th, by Senior Advocate Mukul Rohatgi. As a result, the case was listed today.



Tagged: Supreme Court   Madras High Court   SpiceJet Ltd   India’s Chief Justice   Senior Advocate KV Vishwanathan  
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