Credit Suisse case: Pay up or face jail, SC warns SpiceJet boss Ajay Singh
The Supreme Court on Monday told SpiceJet Chairman and Managing Director (CMD) Ajay Singh that it (the court) was “not worried” even if the low-cost airline “shuts down” and it would take “drastic measures” if Singh did not give proof of payment of $500,000 as its monthly instalment and $1 million as the defaulted amount to Swiss firm Credit Suisse by September 15.
The Division Bench of Justice Vikram Nath and Justice Ahsanuddin Amanullah came down heavily on Singh, saying he would be sent to Tihar jail if he kept on “dilly-dallying (on) the payment”.
