"SpiceJet will fold up if…": Supreme Court to hear the dispute on January 28
New Delhi : The Supreme Court has agreed to hear the SpiceJet matter on January 28, after the airline said "it will fold up if case is not heard".
Chief Justice N V Ramana agreed to hear the matter on January 28.
The SpiceJet had urged an early hearing of the matter and its counsel said that "the company will fold up if the case is not heard."
Senior advocate Mukul Rohtagi appeared for Spicejet and requested hearing on January 28.
"This is regarding winding up of Airline SpiceJet. Please list on Friday otherwise the airline will fold up," he told the top court.
In the last one year, SpiceJet stocks have declined by more than 30 per cent, making the overall value of the company equivalent to what it was in 2014, when it was about to shut its operations.
The matter pertains to a plea by Swiss financial services company Credit Suisse AG to wind up SpiceJet after a decade-long standoff between the two entities over unpaid dues of almost ₹ 180 crore.