The airline industry filed an appeal in the Madras High Court against an order of the single bench of the high court directing the airline to wind up its operation, said SpiceJet.

On 6 December, Justice Subramaniam of the Madras High Court had ordered the airline company to wind up its operation over its failure to make payments to a Swiss Maintenance, Repair, and Overhaul (MRO) service provider. Around 24 million US dollars was claimed by the Zurich-based MRO service provider, SR Technics, that it has a ten-year contract with the airline company.

• SAIL Shares Slip 0.91% as CMD Amarendu Prakash Steps Down
• Bosch Jumps 12% in Two Sessions on E-Mobility JV
• Latent View Analytics Shares Skyrocket 20% on Deal with Healtheon AI 
• Ola Electric Shares Jump 9% on Roadster X+ Price Cut
• Lupin Shares Slumped Despite Acquiring Stake in Multicare Pharma 

Also, Credit Suisse AG has the right to receive payments on behalf of SR Technics and the single bench of the Madras High Court, which the MRO company assigned, and HC had to its appeal and ordered the winding up SpiceJet.

Stock Covered in the news

SpiceJet Ltd-View Detailed Analysis