By Arpan Chaturvedi

NEW DELHI, Aug 14 (Reuters) – India’s high courtroom has requested Indian airline SpiceJet’s managing director Ajay Singh to reply to a contempt case by Credit Suisse inside 4 weeks, a lawyer concerned within the case informed Reuters.

Credit Suisse in March approached the highest courtroom in search of to provoke contempt proceedings towards Singh and SpiceJet over “a wilful and intentional disobedience” of courtroom orders and failure to pay dues of $3.9 million as per a settlement between the 2 sides, a courtroom submitting exhibits.

Credit Suisse and SpiceJet have been engaged in a authorized dispute since 2015 over Credit Suisse’s declare of unpaid dues of round $24 million, which led to the Madras High Court’s order that the airline be wound up in 2021.

SpiceJet in a press release mentioned the debt is an “old one and predates the current promoter taking over the company,” and that it intends to pay the quantity.

In an attraction towards the excessive courtroom order, the highest courtroom suspended the winding-up proceedings, permitting each events to debate a settlement.

In August 2022, either side knowledgeable the highest courtroom that they’d agreed to settle the dispute.

But subsequently, in March, Credit Suisse filed a contempt case towards managing director Ajay Singh, with the corporate secretary and the airline saying they’d did not pay dues as per their settlement.

The high courtroom has requested Singh to be current within the subsequent listening to. (Reporting by Arpan Chaturvedi Editing by Bernadette Baum)