The Supreme Court (SC) on Friday permitted domestic airline SpiceJet to make payments to Credit Suisse of $1 million per month for a duration of six months to clear arrears amounting to $3 million. Following the completion of the six-month period, Ajay Singh of SpiceJet is required to pay regular instalments of $500,000 to Credit Suisse.
In a statement, the airline commented, “The Hon’ble Supreme Court has acknowledged our compliance with its previous orders and concurred with our proposal to settle the $3 million arrears over the forthcoming six months. This represents a positive outcome for the company and our stakeholders, and we extend our gratitude to the Court for its understanding.
