Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023

SpiceJet has settled payment dispute with Credit Suisse, Supreme Court told

The payment dispute with Credit Suisse had formed the basis for the Madras High Court to order winding-up of the airline.

March 31, 2022 / 05:51 PM IST

SpiceJet has settled the payment dispute with Credit Suisse, the airline informed the Supreme Court on March 31.

The payment dispute with Credit Suisse had formed the basis for the Madras High Court to order winding-up of the airline. This dispute has now been settled, Senior Advocate Mukul Rohatgi, representing SpiceJet, informed the apex court today.

In a statement issued shortly after the court hearing, SpiceJet has said that the "parties have now reached an in-principle commercial settlement of the dispute and the process of documentation is underway."

"The settlement with Credit Suisse follows SpiceJet’s successful settlements with De Havilland Aircraft of Canada Limited (DHC), Boeing, aircraft lessors CDB Aviation and Avolon," the statement issued by the airline adds.