SpiceJet paid $1.5 million to Credit Suisse

New Delhi: SpiceJet on Friday said it has complied with the Supreme Court’s direction by transferring $1.5 million to Credit Suisse. “SpiceJet Ltd has complied with the Supreme Court’s direction by sending $1.5 million to Credit Suisse. The payment was made on Thursday,” an airline spokesperson said. Earlier, the Supreme Court had issued a stern warning to SpiceJet Chairman and Managing Director (CMD) Ajay Singh for defaulting in paying dues to the global investment bank and financial services firm. A bench of Justices Vikram Nath and Ahsanuddin Amanullah had ordered the budget airline to deposit the monthly installment of $5 lakh by September 15 along with an additional $1 million from the defaulted amount. Last year, the top court had withdrawn the airline from liquidation after SpiceJet promised to pay $5 lakh every month to Credit Suisse. According to the agreement reached between the two parties in May last year, which was upheld by the Supreme Court, SpiceJet will have to pay an amount of five lakh dollars by the 15th of each month.