Summary:
New Delhi, Jan 28 (PTI) The Supreme Court Friday granted three weeks to SpiceJet to resolve financial dispute with Swiss firm Credit Suisse AG and stayed the Madras High Court order on its winding up, saying that it was a “serious matter” and the airlines cannot say it is a busy organisation and would not pay.
A bench headed by Chief Justice N V Ramana, while staying the publication of winding up notice and the order directing the official liquidator attached to the Madras High Court to take over the assets of the low-cost airline, questioned the approach of SpiceJet.
The bench, also comprising Justices A S Bopanna and Hima Kohli, took note of the submissions of senior advocate Harish Salve that SpiceJet would try to resolve the issue with the Swiss firm.
“Senior counsel Harish Salve sought three weeks" time for trying to resolve the matter and Mr K V Vishwanathan (appearing for the Swiss firm) also agreed to the adjournment.
Meanwhile, the high court order is stayed for three weeks,” the bench said in its order.
At the outset, Salve sought three weeks" time to sort out the dispute with the Swiss firm whose counsel did not oppose the plea for adjournment, but raised questions over the offer being made by the low cost airlines.