Uniindia: New Delhi, May 25 (UNI) SpiceJet Limited and Credit Suisse AG have signed and concluded the settlement and consent terms with regard to the pending dispute between the two parties,it was reported on Wednesday.
The airline had provided bank guarantee worth $5 million after the Madras High Court order in the matter and no advance financial liability is pending with the company
Budget carrier SpiceJet on Thursday said it has reached an in-principle commercial settlement with Credit Suisse.The dispute was about the payment of $24 million by SpiceJet to Credit Suisse. It had emanated out of an old service contract which .
The budget carrier in a statement said that both the parties have reached an in-principle commercial settlement of the dispute and the process of documentation is underway.