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SC issues contempt notice to SpiceJet CMD Ajay Singh on Credit Suisse's plea

If it is proved that SpiceJet has willfully failed to comply with its orders, the Supreme Court has the powers to punish the cash-strapped airline and Singh

August 14, 2023 / 17:26 IST
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SpiceJet contempt
SpiceJet contempt

The Supreme Court on August 14 issued a contempt notice to low-cost airline SpiceJet's chairman and managing director Ajay Singh on a plea filed by Credit Suisse, accusing the cash-strapped carrier of failing to comply with a court-approved settlement plan for payment of dues, adding to the Gurugram-based company's troubles.

If it finds that SpiceJet willfully failed to comply with its orders, the apex court has the power to punish the airline and Singh, who has also been summoned by the Delhi High Court for not filing an affidavit of assets and liabilities in the arbitration case with Sun Group’s Kalanithi Maran.

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The setback came on the day the company announced a profit in the June quarter of the current fiscal. SpiceJet's reported a net profit of Rs 197.53 crore for the April-June period against a loss of Rs 789 crore in the year-ago period.

While sections of the media had earlier reported that Supreme Court has sought Singh's personal appearance before the bench, it was later clarified that such a directive has not been issued.