Shares in SpiceJet have dropped by 5% to a low of Rs. 20.25 after BBAM filed winding-up petition against the airline through five units (B&B Air Acquisition, Steddell Ltd, Torodell Ltd, Xavierdell Ltd and Virgodell Ltd). Petitions to have the company wound up, and an official liquidator recover the arrears, have been filed with the Madras High Court.

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