Thursday, May 18, 2023

SpiceJet To Pay Settlement To Credit Suisse By July 18, Orders Supreme Court

The Supreme Court on Wednesday reportedly ordered SpiceJet to pay the settlement amount to Credit Suisse. The apex court has reportedly given time till July 18 to SpiceJet for this. 

According to a report in the Economic Times, the issue between SpiceJet and Credit Suisse is about a $24 million dispute. Credit Suisse also told the top court that while SpiceJet did make some payments, an outstanding amount of $4.4 million is yet to be paid. 

The matter was heard by a Supreme Court Bench comprising Justices AS Bopanna and Hima Kohli. They also deferred the hearing on the contempt petition which was reportedly filed by Credit Suisse after SpiceJet mentioned about its commitment to pay the huge settlement. 

18/05/2023 Outlook

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