Credit Suisse drag SpiceJet in Supreme Court over contempt charges

Credit Suisse has moved to the India’s top court against SpiceJet alleging contempt of court over the failure of the airline to comply with a court-approved settlement plan for payment of dues. SpiceJet, however, told the apex court on April 21 that it would pay a tranche the same day and the next in May. According to SpiceJet, the settlement amount is subject to Reserve Bank of India approval, so the airline could not begin payments as per schedule. The Supreme Court put the contempt plea on hold and will now hear the case on May 17. In May 2022, SpiceJet