The Supreme Court recently directed SpiceJet to pay $1 million per month to global investment bank, Credit Suisse for 6 months, towards clearing long-pending dues from the airline company.
A SpiceJet spokesperson informed that out of the principal amount of Rs 578 crore awarded in arbitration, the airline has already paid Rs 308 crore in cash and deposited a bank guarantee of Rs 270 crore.
A court order to wind up SpiceJet was paused for three weeks by the Supreme Court today as the private airline said it is trying to resolve issues with Credit Suisse AG. The case relates to the non-payment of $24 million (Rs 180 crore) to the Switzerland-based stock corporation.
SpiceJet had challenged a Madras HC order that directed the airline to pay $5 million to financial services firm Credit Suisse, or face liquidation of assets.