SC agrees with SpiceJet payment proposal, orders airline to pay $1 mn every month for the next 6 months to Credit Suisse

Supreme Court has asked SpiceJet’s Chairman Ajay Singh to pay $1 million every month for the next six months to clear arrears of $3 million, which includes $500,000 each for arears and regular installments. The order is in line with SpiceJet’s payment proposal.

After six months of payments, Singh has to pay regular instalment of $5,00,000 to Credit Suisse, the court ordered. Singh will also have to be present in the court on the next date of hearing on Oct 20.