Supreme Court orders SpiceJet to pay settlement amount to Credit Suisse by July 18

The Supreme Court on Wednesday gave SpiceJet time till July 18 to pay the settlement amount to Credit Suisse in the $24-million dispute.

An apex court Bench comprising Justices AS Bopanna and Hima Kohli deferred the hearing on the contempt petition filed by Credit Suisse after the cash-strapped airline reiterated its commitment to pay the settlement amount.

Credit Suisse told the court that while SpiceJet had made some payments, an outstanding amount of around $4.4 million is yet to be paid.


The Swiss firm had filed a winding-up case against the airline for failing to honour $24 million towards payment of servicing the aircraft engines and components in 2013.