Credit Suisse dispute: SC directs SpiceJet chairman to pay up or go to Tihar jail

New Delhi: The Supreme Court has ordered SpiceJet to pay $500,000 along with $1 million towards the defaulted amount by September 22 to Credit Suisse.

The Apex Court warned that SpiceJet Chairman and Managing Director (CMD) Ajay Singh could be sent to Tihar jail, if the payment was not made as per its order.

The Apex court passed the order after hearing a legal dispute involving Credit Suisse and SpiceJet since 2015 over unpaid dues of around $24 million.

The matter would be heard next by the Apex Court on September 22.

Coming down heavily on SpiceJet, the Top Court also warned of strong actions against it, if it didn't pay up as per its directions.

The Supreme court also said that it may take the strictest action, against Singh, including sending him to Tihar jail, if the payment wasn't made as per its orders.

The Top court has asked Singh to be present in the court during every hearing of the case. (UNI)