The Supreme Court on Monday directed SpiceJet chairman and managing director, Ajay Singh to furnish proof of deposit of $500,000 and $1 million by September 15, to Credit Suisse. A two judge bench warned Singh of ‘drastic measures’ if he does not comply with the order, and has asked him to be present in future hearings, along with SpiceJet’s company secretary.
During the course of the hearing, the court orally observed that there is a clear contempt of court on Singh’s part as he has not followed the terms of the May 2022 order. The case will be next heard on September 22.
