The Supreme Court has come down hard on SpiceJet Chairman and Managing Director Ajay Singh, warning him he will be sent to Tihar jail for non-compliance with its order on making payment to global investment bank and financial services firm Credit Suisse AG.
The top court asked Singh to pay USD 5,00,000 towards an instalment to the Swiss firm along with USD 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 observed.
