Madras High Court allows winding up of SpiceJet, directs liquidator to take over assets

The Court found that Spicejet “miserably failed to satisfy the three pronged test” suggested by the Supreme Court on whether a winding up proceeding is to be admitted or not.
Spice Jet
Spice Jet

The Madras High Court on Monday allowed a plea by Credit Suisse, a stock corporation registered under the laws of Switzerland, seeking winding up of SpiceJet and directed the official liquidator to take over the company’s assets (Credit Suisse AG v. SpiceJet Limited).

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