{"id":597787,"date":"2023-08-16T10:17:03","date_gmt":"2023-08-16T04:47:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=597787"},"modified":"2023-08-16T11:28:36","modified_gmt":"2023-08-16T05:58:36","slug":"sc-issues-contempt-notice-to-ajay-singh","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/sc-issues-contempt-notice-to-ajay-singh\/","title":{"rendered":"SC issues contempt notice to Ajay Singh"},"content":{"rendered":"<p>SpiceJet\u2019s 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 \u201cin-principle commercial settlement\u201d 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.<\/p>\n<p>In a statement, SpiceJet said: \u201cA 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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SpiceJet\u2019s 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 \u201cin-principle commercial settlement\u201d 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: \u201cA settlement agreement had been reached between SpiceJet and Credit Suisse last year for an amount of $24 million. The [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-597787","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/597787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=597787"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/597787\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=597787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=597787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=597787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}