Monday, September 18, 2023

SpiceJet pays $1.5 mn to Credit Suisse after SC warning

SpiceJet on Friday said that it has complied with the Supreme Court's directive by transferring $1.5 million to Credit Suisse.

"SpiceJet Ltd. has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse. The payment was executed on Thursday," said an airline spokesperson.

Earlier, Supreme Court had issued a stern warning to SpiceJet Chairman and Managing Director (CMD), Ajay Singh, for default in making the due payments to the global investment bank and financial services firm.

A bench comprising Justices Vikram Nath and Ahsanuddin Amanullah had ordered the budget airline to deposit the monthly installment of $500,000 by September 15 along with an additional $1 million out of the defaulted amount.

17/09/2023 IANS/SME Times

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