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

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.