CREDIT SUISSE AG Vs. SPICE JET LTD.

JUDGEMENT

(1.) The Company Applicant in CA. No. 1119/2015 praying this Court to set aside the ex-parte order passed in the above C.P. No. 363 of 2015 dated 14-10-2015. The Company Applicant in CA. No. 1120/2015 praying this Court, to pass an order of interim stay of all further proceedings in the above C.P. No. 363 of 2015. These Company Applications coming on this day before this Court for hearing in the presence of Mr. Ramakrishnan Veeraraghavan, Senior Counsel for M/s. Ashok Menon, Advocate for the applicant in CA. Nos. 1119&1120/2015 and for the respondent in CA. Nos. 887&888/2015 and of Mr. R. Parthasarathy for M/s. Satish Parasaran, Advocate for the 2nd respondent in CA. Nos. 1119 & 1120/2015 and for the applicant in CA. Nos. 887 & 888/2015 and of Mr. P. Atchutha Ramaiah, Official Liquidator,. High Court, Madras, the 1st respondent in CA. Nos. 1119 & 1120/2015 and upon reading order dated 14-10-2015 made in CP. No. 363/2015 & in CA. Nos. 887&888/2015 and the order dated 23-11-2015 made in CA. Nos. 1117 & 1118/ 2015 in CP. No. 328/2015 & CA. Nos. 1119 & 1120/2015 in CP. No. 363/2015. The court made the following order:

(2.) Along with Company Petition No. 363 of 2015, M/s. Credit Suisse AG Switzerland, has filed Company Application No. 887 of 2015, for an injunction, restraining M/s. Spicejet Ltd., Chennai, its directors, officers, servants, agents or anyone acting through or under them from in any manner alienating, encumbering, dealing with, disposing or creating any third party rights, interests or charge in or over the assets of the Company, sought to be wound up, pending disposal of the Company Petition.

(3.) In Company Application No. 888 of 2015, M/s. Credit Suisse AG, Switzerland, has sought for appointment of the Official Liquidator, High Court, Madras, as the Provisional Liquidator of the Company, with all powers, to take charge of the assets, properties, stock in trade and books of account of the Company, pending disposal of the Company Petition.