The Supreme Court has provided SpiceJet Ltd, a budget airline, with a six-month window to settle its outstanding debt of $3 million to Credit Suisse. The ruling, issued on Friday, orders the airline to make monthly payments of $1 million over the next half year to clear the debt.
The court's verdict, which comes in a case involving disputed unpaid dues, has been viewed as a favorable outcome for SpiceJet and its stakeholders. The court recognized the airline's adherence to its past rulings and accepted the proposal put forth by SpiceJet to pay off the arrears in six months.
In reaction to the Supreme Court's decision, a representative from SpiceJet stated that the company is committed to meeting their financial obligations punctually and maintaining high standards of compliance. The spokesperson also expressed gratitude towards the court for their understanding and conveyed eagerness to continue positive interactions with all stakeholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Related Articles
SpiceJet given six months by Supreme Court to settle $3M debt with Credit Suisse
Apple's flagship Shanghai store buzzes as iPhone 15 goes on sale
Citi says Meta shares to rally in near term on share gains, upcoming AI event