Deposit $5 million in two weeks or face liquidation: Madras HC to SpiceJet

The Madras High Court has stayed its earlier order of winding up SpiceJet and appointing an official liquidator for SpiceJet's non-payment of $24 million to Credit Suisse AG. The Madras High Court has now asked SpiceJet to deposit $5 million within a period of two weeks. "The company is examining the order and shall initiate appropriate remedial steps," SpiceJet said.