SpiceJet claims that a previous order to wind up the airline has been postponed by the Madras High Court.

SpiceJet NSE -0.66 per cent said on Tuesday that the Madras High Court has postponed its earlier order to wound up the airline, adding that it will shortly take "necessary corrective steps," including filing an appeal against the ruling before a higher court. The budget carrier stated in a statement to the BSE that the Madras High Court had issued an order "winding up SpiceJet and appointing an official liquidator" on Monday in a lawsuit brought by Credit Suisse for non-payment of USD 24.01 million dues to engine repair services provider SRT Technics.

The Madras High Court, on the other hand, issued another ruling on the same day, staying its previous order and giving SpiceJet "a time of three weeks, subject to the firm depositing the sum equivalent to USD 5 million before two weeks."