Credit Suisse case: SC gives Ajay Singh last chance to pay, else face jail

The Supreme Court (SC) on Monday asked SpiceJet Chairman Ajay Singh to make a payment of $500,000 towards an installment to Credit Suisse by September 22, along with $1 million towards the defaulted amount.

The court further said that if the payment is not made, Singh would be sent to Tihar jail. It has asked Singh to be present at the court on every hearing, according to a report in The Economic Times (ET).

The court said: “We have to move to the next drastic step. We are not worried if you shut down. Enough of this dilly-dally business… you will have to abide by the consent terms. We are not bothered even if you die. It is too much,” the court said.