SpiceJet clears $1.5 million payment due to Credit Suisse after SC warning
Indian airline SpiceJet on Friday said that it has cleared its $1.5 million dues to Credit Suisse. It comes days after the Supreme Court warned the airline’s chairman Ajay Singh to make the payment or go to Tihar jail.
“SpiceJet Ltd. has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse. The payment was executed on Thursday, September 14,” the company’s statement read.
On September 12, the apex court asked Singh to pay $500,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount. “We have to move to the next drastic step. We are not worried even if you shut down,” a bench of Justices Vikram Nath and Ahsanuddin Amanullah said.
