SpiceJet Ltd gets favorable order from DIFC court

The Dubai International Financial Centre (DIFC) Court on October 30, 2023 issued a freezing order (Order) in relation to certain engines installed on aircraft bearing Indian registration mark VT-SLM. As a result of aforesaid Order, the aircraft was grounded at Al Maktoum International Airport, Dubai (DWC) and has remained there since.

In a DIFC Court hearing on December 7, 2023, the Order was discharged in favour of SpiceJet. Additionally, the Judge has directed an inquiry into losses suffered by SpiceJet as a result of the Order having been made. The Court has further ordered to pay towards the legal costs incurred by SpiceJet.

Summarily, there isn't any Order of the DIFC Court restricting SpiceJet from operating the aircraft, including departing from DWC.

Shares of SPICEJET LTD was last trading in BSE at Rs. 54.97 as compared to the previous close of Rs. 52.29. The total number of shares traded during the day was 44762333 in over 53408 trades.

The stock hit an intraday high of Rs. 56.40 and intraday low of 50.00. The net turnover during the day was Rs. 2386596959.00.

Source : Equity Bulls

Keywords

SPICEJET INE285B01017 DIFCCourt FavorableOrder