Budget carrier SpiceJet on Friday said it has completed the payment of $1.5 million to global investment bank Credit Suisse, complying with a Supreme Court order.
"SpiceJet Ltd has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse. The payment was executed on Thursday, September 14,’’ the airline said in a regulatory filing.
The apex court had come down hard on SpiceJet chairman and managing director Ajay Singh — warning him he would be sent to Tihar jail for non-compliance with its order on making the payment to Credit Suisse AG.
The top court had asked Singh to pay $5,00,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount.
SpiceJet said after the payment it “acknowledges the legal process and is committed to complying with all the court’s directives and obligations in the Credit Suisse case and will make the payment of $1.5 million as per the court directive. Till date, SpiceJet has already paid a total of $8 million to Credit Suisse. SpiceJet remains committed to the highest standards of transparency and legal compliance. This liability is an old one and predates the current promoter taking over the company”.
Credit Suisse said SpiceJet had availed itself of the services of SR Technics, Switzerland, for the maintenance, aircraft engines. The dispute arose over the non-payment of dues to SR Technics.
Mangalore Airport permit
The Director General of Civil Aviation (DGCA) has renewed the aerodrome license of Mangalore International Airport.
The renewed licence effective from September 16, 2023, will be valid for a period of five years that is up to September 15 2028.
The Adani Group took over the operations of the international airport in the Karnataka port city on October 31, 2020.
The validity of the current aerodrome licence issued on March 16, 2022, ended on September 15, 2023. The airport received the renewed licence on September 12.
The DGCA had initially granted aerodrome licence to Mangaluru International Airport Ltd that operates Mangalore International Airport on September 16, 2021, for a six-month period up to March 15, 2022.
The civil aviation regulator subsequently extended the same for a further 18-months from March 16, 2022, up to September 15, 2023.
