SpiceJet, Credit Suisse AG tell SC they resolved financial dispute

Updated: Aug 18 2022 6:34PM

New Delhi, Aug 18 (PTI) SpiceJet and Swiss firm Credit Suisse AG Thursday told the Supreme Court about the resolution of their financial dispute which led to the withdrawal of an appeal by the low-cost airline against a Madras High Court verdict which had ordered its winding up due to alleged non-payment of dues to the Swiss firm.

"There is a settlement which has taken place on May 23, 2022, as per the consent terms. In view of it, both the parties are satisfied with the settlement and want to withdraw the SLP (special leave petition) filed by the petitioner.

"Accordingly, the application is allowed," an apex court bench comprising Chief Justice N V Ramana and Justices Hima Kohli and C T Ravikumar said in the order.