The Supreme Court on Monday asked SpiceJet to settle a $1.5-million debt owed to Swiss firm Credit Suisse by September 15. “There is no scope of belated payment. The respondent is not justified in saying so. The very fact that the respondent is in default is apparent from the dateline given,” the SC observed.
The apex court had in September allowed SpiceJet to clear arrears of the Swiss financial services firm over a dispute settlement in six months. The airline was supposed to pay Credit Suisse $500,000 a month towards the arrears, in addition to the scheduled monthly payment of $500,000 that SpiceJet was already making.
