Matter With Credit Suisse Settled, Spicejet Tells Supreme Court; Seeks Listing Of Plea Against Winding Up Order
2 years, 7 months ago

Matter With Credit Suisse Settled, Spicejet Tells Supreme Court; Seeks Listing Of Plea Against Winding Up Order

Live Law  

Airline company Spicejet Ltd on Friday told the Supreme Court that it has reached a settlement with the creditor and sought an urgent listing of its plea challenging the winding order passed by the Madras High Court.The Madras High Court had passed the winding up order in December 2021 on a petition filed by Credit Suisse AG, a Switzerland based Stock Corporation.In January 2022, the. Airline company Spicejet Ltd on Friday told the Supreme Court that it has reached a settlement with the creditor and sought an urgent listing of its plea challenging the winding order passed by the Madras High Court. The Madras High Court had passed the winding up order in December 2021 on a petition filed by Credit Suisse AG, a Switzerland based Stock Corporation. In January 2022, the Supreme Court had stayed the publication of the winding up order, after Spicejet's counsel Senior Advocate Harish Salve said that the company is working on a settlement with the Swiss creditor.

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History of this topic

Supreme Court Orders Liquidation Of Jet Airways On Failure Of Resolution Plan
2 months ago

Supreme Court Orders Liquidation Of Jet Airways On Failure Of Resolution Plan

Live Law  

The Supreme Court invoked its extraordinary powers under Article 142 of the Constitution to order the liquidation of Jet Airways in view of the "peculiar and alarming" circumstance that the resolution plan has not been implemented for five years.The Court set aside the NCLAT Order which allowed the cash-strapped Jet Airways' ownership transfer to the Successful Resolution Applicant. The Court …

Spicejet faces another insolvency plea from operational creditor; NCLT issues notice
3 months, 2 weeks ago

Spicejet faces another insolvency plea from operational creditor; NCLT issues notice

The Hindu  

The National Company Law Tribunal on Monday issued notice to debt-ridden air carrier SpiceJet over the plea filed by one of its operational creditors. SpiceJet is already facing several insolvency petitions from creditors, including Willis Lease, Aircastle Ireland Ltd, Wilmington and Celestial Aviation at NCLT and the appellate tribunal NCLAT. The latest petition is by Techjockey Infotech Pvt Ltd, an …

Supreme Court to consider SpiceJet’s plea against Delhi HC order grounding 3 aircraft engines
3 months, 4 weeks ago

Supreme Court to consider SpiceJet’s plea against Delhi HC order grounding 3 aircraft engines

The Hindu  

The Supreme Court said Thursday it will consider listing low-cost airline SpiceJet’s plea challenging a Delhi High Court verdict grounding three aircraft engines for defaulting on payments to lessors. A division Bench of the Delhi High Court on Wednesday held that the carrier had violated an agreed interim arrangement for payment of dues and upheld an order of a single-judge …

Court upholds SpiceJet engine grounding order
3 months, 4 weeks ago

Court upholds SpiceJet engine grounding order

Hindustan Times  

New Delhi A division bench of the Delhi high court on Wednesday upheld an order passed last month by a single judge, directing embattled budget airline SpiceJet to ground three engines and returning them to lessors Team France 01 SAS and Sunbird France 02 SAS. In the position in which SpiceJet is at this juncture, Team France and Sunbird France …

SC orders SpiceJet to clear dues to Credit Suisse
10 months, 3 weeks ago

SC orders SpiceJet to clear dues to Credit Suisse

New Indian Express  

NEW DELHI: The Supreme Court on Monday took notice of SpiceJet chairman and managing director Ajay Singh’s bid for grounded carrier - Go First - and said that while the businessman is not clearing the dues of Credit Suisse he has enough resources to acquire an airline. The apex court came down heavily on Singh for not clearing its dues …

SC clears SpiceJet’s Ajay Singh overseas travel amid dispute with Credit Suisse
1 year, 2 months ago

SC clears SpiceJet’s Ajay Singh overseas travel amid dispute with Credit Suisse

Live Mint  

New Delhi: The Supreme Court on Friday allowed SpiceJet's managing director Ajay Singh to travel overseas, deferring a hearing related to a dispute between the airline and Credit Suisse to December. The top court had, in earlier sessions, allowed SpiceJet some respite, letting it remit $1 million monthly to Credit Suisse for half a year to settle overdue amounts. Switzerland-based …

Indian airline SpiceJet tells court it is 'struggling to stay afloat'
1 year, 4 months ago

Indian airline SpiceJet tells court it is 'struggling to stay afloat'

The Hindu  

Indian budget airline SpiceJet told a court on Thursday it was "struggling to stay afloat", as it was ordered to make a payment to its former owner over money owed. In 2018 SpiceJet lost an arbitration case arising out of share transfers from former owner Kalanithi Maran to the company's new management in 2015, making the airline liable to pay …

Credit Suisse files contempt plea against SpiceJet
1 year, 8 months ago

Credit Suisse files contempt plea against SpiceJet

Live Mint  

MUMBAI : Lender Credit Suisse on Friday filed a contempt petition against SpiceJet in the Supreme Court, alleging the troubled domestic carrier had failed to pay dues that were part of a settlement. In September 2012, SR Technics formally gave Credit Suisse all rights to receive payments under the SpiceJet deal. However, the airline failed to make payments of over …

Spicejet & Credit Suisse Settles Dispute, Plea In Supreme Court Withdrawn
2 years, 4 months ago

Spicejet & Credit Suisse Settles Dispute, Plea In Supreme Court Withdrawn

Live Law  

The Supreme Court on Thursday heard the plea of airline company SpiceJet Ltd., challenging the winding order passed by the Madras High Court on Thursday. The airline company stated that it had reached a settlement with the creditor and agreed to withdraw the Special Leave Petition filed against the Madras High Court's winding up order. Accordingly, the Madras High Court …

SpiceJet Mishaps: Lawyer Moves Delhi High Court Seeking To Stop Company's Flying Services
2 years, 5 months ago

SpiceJet Mishaps: Lawyer Moves Delhi High Court Seeking To Stop Company's Flying Services

Live Law  

A public interest litigation has been filed by a lawyer before the Delhi High Court raising safety concerns and seeking to stop flying services of Spice Jet Limited, in view of recent flight mishaps in the past two months.Moved by Advocate Rahul Bhardwaj, the plea makes Union of India, Ministry of Civil Aviation, DGCA and Spice Jet Limited as respondents. …

SpiceJet, Credit Suisse reach an agreement for settlement
2 years, 9 months ago

SpiceJet, Credit Suisse reach an agreement for settlement

Live Mint  

Budget carrier SpiceJet Ltd. on Thursday said it has reached an in-principle agreement with Credit Suisse for settlement of a dispute which entails the airline paying the settlement amount over some time. "SpiceJet had already deposited $5million on the direction of the Hon’ble Madras High Court in the Credit Suisse case and there is no adverse financial liability on the …

SC grants stay on Madras HC order to wind up SpiceJet
2 years, 11 months ago

SC grants stay on Madras HC order to wind up SpiceJet

Live Mint  

The Supreme Court on Friday stayed a Madras high court order directing the winding-up of SpiceJet Ltd, granting the airline the three weeks it requested to resolve its dispute with Credit Suisse AG. In the second week of January, the high court turned down an appeal by SpiceJet against a December order by a single-judge bench to wind up its …

'This Isn't The Way To Run Airlines': Supreme Court To SpiceJet While Staying Publication Of Madras HC's Winding Up Order
2 years, 11 months ago

'This Isn't The Way To Run Airlines': Supreme Court To SpiceJet While Staying Publication Of Madras HC's Winding Up Order

Live Law  

The Supreme Court on Friday stayed the publication of the winding-up order passed by the Madras High Court against airline company SpiceJet Ltd. However, a bench led by the Chief Justice of India also made certain critical remarks against SpiceJet.Senior Advocate Harish Salve, appearing for SpiceJet, sought for three weeks time saying that they are working out things with the …

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