InvestorQ : Why is SpiceJet being referred to liquidation by the High Court?
Riya Dwivedi made post

Why is SpiceJet being referred to liquidation by the High Court?

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shrinidhi Rajan answered.
5 months ago
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Madras High Court had ordered liquidation proceedings against SpiceJet after Credit Suisse had filed a petition against SpiceJet for dues of $24 million. This has already created panic among creditors and suppliers of SpiceJet. This case pertains to a 2011 engine maintenance contract with SR Technics of Switzerland. SR Technics had assigned receivables to Credit Suisse for raising the funding and that is how Credit Suisse is involved.
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