SpiceJet and Swiss firm Credit Suisse AG informed the Supreme Court on Thursday that they have settled their financial dispute. The court allowed the airline to withdraw its appeal against the Madras High Court’s order asking the company to wind up after it allegedly failed to pay back its dues to the Swiss firm.
The Swiss firm had filed a plea in the high court against the airline for non-payment of over $24 million towards maintenance, repairing, and overhauling of aircraft engines and components in 2013. The apex court had then stayed the high court’s order and told both the parties to settle.
