SpiceJet’s legal troubles are mounting by the day. The SC on Monday issued a contempt notice to SpiceJet CMD Ajay Singh on a plea filed by Credit Suisse, which has accused the airline of failing to comply with an “in-principle commercial settlement” arrived at in a $24-million dispute last year. The Swiss firm alleged that Singh and SpiceJet have not been paying as per schedule and that there is an outstanding balance of $6.5 million.
In a statement, SpiceJet said: “A settlement agreement had been reached between SpiceJet and Credit Suisse last year for an amount of $24 million. The debt is an old one and predates the current promoter (Ajay Singh) taking over the company.
