Monday, September 11, 2023

India court warns SpiceJet of 'drastic action' if Credit Suisse dues unpaid

India's top court on Monday directed SpiceJet to pay $1.5 million in a case related to unpaid dues to Credit Suisse by Sept. 15 and warned the budget airline of unspecified "drastic action" at the next hearing if it failed to do so.

A third of the amount is part of a monthly settlement plan SpiceJet had previously agreed with Credit Suisse, and the rest are unpaid dues to the bank which have accrued since last year after the airline failed to keep up with the payment schedule.

If SpiceJet fails to pay, the Supreme Court will take "drastic action" at the next hearing on Sept. 22.

"Enough of this dilly-dally business ... We are not bothered even if you die," one of the two judges said during the hearing which was attended by SpiceJet chief Ajay Singh.

11/09/2023 Reuters

To Read the News in full at Source, Click the Headline


Post a Comment