Madras High court orders winding up of SpiceJet Ltd The Madras High Court has ordered that SpiceJet Limited must be wound up and the assets must be taken over by the official liquidator on the grounds of proved inability of the Airlines to repay its debts. While giving out the order the Apex court refereed to the judgement of Mathusudan Gordhandas & amp; Co. v. Madhu Woollen Industries (P) Ltd., (1971) 3 SCC 632 to determine the admission of winding up when the existence of debt is proved from SpiceJet Ltd. In this Petition filed under Section 433(e) and (f) r/w Sections 434 and 439 of the Companies Act, 1956, the court used the three pronged test framed in the above mentioned case. It was as follows • Ascertaining if the defense of company is Bonafide and is of substance, • If such defense is likely to succeed on point of law, and • If the company produces prima facie proof of the facts on which the defense rests. The legal professionals at Reddy & amp; Reddy Law Firm specialise in handling varied disputes and have made successful representations before the Courts, Tribunals and other adjudicatory forums in India