NEW DELHI: The Supreme Court has come down hard on SpiceJet chairman and managing director Ajay Singh, warning him he will be sent to Tihar jail for non-compliance with its order on making payment to Credit AG.
The top court asked Singh to pay $5,00,000 towards an instalment to the Swiss firm along with $1 million defaulted amount. “We have to move to the next drastic step. We are not worried even if you shut down,” a bench of Justices Vikram Nath and Ahsanuddin Amanullah observed.
Irked over the “dilly-dally business”, the bench told Singh that he will have to abide by the consent terms and warned, “We are not bothered even if you die. We will send you to Tihar jail, if you do not pay”. The court’s fulmination came Monday when it asked Singh and the SpiceJet secretary to be present during the hearings and make the payment. It posted the matter on September 22.
The airline said, “SpiceJet acknowledges the legal process and is committed to complying with all court’s directives and obligations 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”.
The top court asked Singh to pay $5,00,000 towards an instalment to the Swiss firm along with $1 million defaulted amount. “We have to move to the next drastic step. We are not worried even if you shut down,” a bench of Justices Vikram Nath and Ahsanuddin Amanullah observed.
Irked over the “dilly-dally business”, the bench told Singh that he will have to abide by the consent terms and warned, “We are not bothered even if you die. We will send you to Tihar jail, if you do not pay”. The court’s fulmination came Monday when it asked Singh and the SpiceJet secretary to be present during the hearings and make the payment. It posted the matter on September 22.
The airline said, “SpiceJet acknowledges the legal process and is committed to complying with all court’s directives and obligations 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”.