SpiceJet-Credit Suisse Case: Supreme Court Warns SpiceJet to Repay Credit Suisse Debt or Face 'Stringent Action'

Brush Stroke By: Rahul Bhatti cinemanila Image Source: Google

The Supreme Court on Monday issued an order directing the airline company SpiceJet to repay a $15 million debt to Switzerland's Credit Suisse bank by September 15th. The court also issued a warning of 'stringent action' if the payment is not made on time.

[{"selector":"#anim-077c1630-1ed7-4a36-8007-fcdab96dee3e","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-381e12cf-8738-401a-8855-100724db968b","keyframes":{"transform":["translate3d(-136.03238%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7ea4368b-ab65-4279-baf9-67b68c5148e4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ce651630-12ba-42b7-bebb-6ead664f632a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-d74cfd39-2579-47cf-8869-083c8faa6b8a","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf8581a7-1225-4133-86ed-cef9c20deac0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f11f788b-7cb6-447c-9dfa-173877cfa23a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-2b59011e-a44c-4f29-bfbb-15e6177eeded","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-071cbd42-693b-421c-8f54-4c01aafffed3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aac0f7dd-b6e4-420b-851f-3f9a376532d3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-fc12ebb4-1c94-4773-a94e-1463b5157ee0","keyframes":{"transform":["translate3d(-143.20388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-55a926e9-cb1b-4244-9a5f-95bad064f42e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6ffb374a-e7aa-46d1-886c-85efc2931122","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-27e0800a-83cc-4d25-a62d-9deb847f409e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-18.886718700281516%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Brush Stroke cinemanila Image Source: Google

According to Reuters' report, a third of the amount is part of a monthly repayment plan, and SpiceJet had previously expressed an agreement with Credit Suisse but still owes the remaining amount to the bank.

[{"selector":"#anim-54ca3c42-191c-4b6a-aec1-f33ed9000728 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.951612775505016%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-119ff7bc-7860-4731-a729-e08b7d889eef","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-621248c9-837d-4afe-9607-78428a0599a3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-661a136b-e7c8-4217-b710-17a770efc395","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-6078288e-9eca-4438-a17a-6a1dd9182b98","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4e678282-fd3e-43f3-92cb-a6a077628d62","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0007e3c-491c-499b-878e-04d0c3267698","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-a53f3e24-614c-4540-9a78-18ab13e37592","keyframes":{"transform":["translate3d(-136.03238%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53d1ad38-499e-46d8-8575-0e626c868861","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9e0ce84b-0af1-4577-a853-61ef9e76305e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-53fde589-3a84-4c9c-982b-56eaf8fc8a0f","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-f1a6ab5c-1177-4fd8-bd5e-742facdfa666","keyframes":{"transform":["translate3d(-143.20388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54832031-d8a1-43a6-b70e-5c004b1eeff6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-14aa152e-3662-4ad0-97b0-3777f3624692","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Brush Stroke cinemanila Image Source: Google

In March, Credit Suisse had approached the Supreme Court to initiate contempt proceedings against SpiceJet and its founder Ajay Singh.

[{"selector":"#anim-6cf69ba7-0b36-4ae7-b10d-0f3fa47fdfab [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.894531140136717%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-58372d69-618f-4de1-a905-27a1cb760e61","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2e552594-25b1-4c2c-ac1e-f2d5bd3435fb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ff15bd7d-919c-4648-997a-cb64c24b2067","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ede4d61c-f623-406e-9e7b-7c01b258bb06","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c866cef5-91e6-46be-893b-eb1833604e9d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c13ea559-7a9a-4e76-a4b4-3752308842de","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-62d8073d-e047-4768-b63d-60b976b8495f","keyframes":{"transform":["translate3d(-133.60324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bedb57b9-c469-4ef8-bc62-8678f02aef59","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74de1d4e-a6c0-493e-a6c8-b810bb6accd6","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ce79873f-b127-45c9-b98e-572906c4efec","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-286b9109-e7bb-4c01-b1cd-3d3cef81236c","keyframes":{"transform":["translate3d(-140.29126%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ae151e5f-a098-438d-9095-e97a182cb601","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1717930c-f1f2-4cfb-90c7-a0b302ec7a83","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Brush Stroke cinemanila Image Source: Google

This action was taken due to the failure to comply with court orders, including the failure to make the settlement of a $3.9 million loan, which was part of a previous settlement agreement between the parties.

[{"selector":"#anim-36bcb5ee-0bd8-4c70-8910-cb89dc244f1b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.65060230436308%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-df079090-88d9-42c6-8c05-7c6233efef51","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e40a189-d8d6-4102-81ce-dfa59a28be05","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7a96f86e-038e-4388-a5a1-c8ef92617785","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-8ebe7a41-b9b5-409f-9cc4-ffbdc0e84504","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-faedcde5-e4e5-4b27-814a-26ebd69b63d6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2fe322ce-60a9-4dee-bc67-1001baa3ff9f","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-e234f944-aee3-44be-b2b5-13677ca00cd0","keyframes":{"transform":["translate3d(-134.0081%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-edffb169-8833-425b-85df-e907784c9bad","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-81a2fd30-e1b3-4d1d-a5ca-6d3b44aaafbb","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-d6ea71a8-18fe-47e4-80d5-ff188ab80caa","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-6e021681-eb35-45c5-95a8-9a240ddb5d32","keyframes":{"transform":["translate3d(-143.20388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-75a2d06f-2796-4f2f-bcf4-627a7ae28e2b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e6523ec1-7560-4bee-b1bf-eebb1600c570","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Brush Stroke cinemanila Image Source: Google

Reuters reported that SpiceJet did not respond immediately to the comment request. SpiceJet has argued that the debt being discussed is old and predates the current management's tenure.

[{"selector":"#anim-3a52eb85-7618-4f0b-ad74-ad3b5b0fa63b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-30.617187382385847%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-f31a73c4-8b3d-4b47-9733-c92acf2a2662","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-093f5a90-777c-4c2d-9c0e-2451325af503","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3a28f97b-a2d3-4dc1-aebb-989d86726fc4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-a16ae1e8-e5f1-4ece-acc4-b2fc177e7487","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-993216c1-ceea-47a6-909d-67e2f74ec02a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-05b58661-3619-421a-86a1-e86de08f9862","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ff1e5b56-10d8-4849-87a7-a9009a84078b","keyframes":{"transform":["translate3d(-136.03238%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3ba8d82b-2293-4676-badd-a63c52f9c34a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4e50d317-ce9a-4445-ab85-b4460635a618","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-a1d4146d-0dc3-44ad-ac7d-3507ddefb6e0","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-ca8fcf0e-17c0-43df-ae1f-c04ffa41f2ca","keyframes":{"transform":["translate3d(-143.20388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3c17bb04-def3-4899-be28-6c7ca4d523ef","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1a3231a3-384f-4bd2-8111-4b9fa0f70f48","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Brush Stroke cinemanila Image Source: Google

The legal dispute between Credit Suisse and SpiceJet has been ongoing since 2015, primarily revolving around the approximately $24 million in disputed claims by Credit Suisse.

[{"selector":"#anim-87d672ce-8b60-4180-aebc-8c7000ebd478 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-cc844779-b33e-4e12-93da-9418134ebba8","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-32398b0e-2d7c-49dc-a2fb-bcb2811c6448","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9ce4cfd2-f7bd-41e8-bc2f-c75abe66aa87","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-589d149b-3d99-4f7e-9b2b-bec2ca99067a","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d011ba29-0b60-47ef-b558-f5722093db43","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-acf78a6e-e641-4ca4-875d-c3b7f1ed6171","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ed8e9ec6-904a-4baf-b04c-1bbee341975f","keyframes":{"transform":["translate3d(-136.03238%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7107ea12-2b35-4894-912d-ce37026934a1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-db214e85-7bba-426c-90d6-3b07d8e0522b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-589f3e04-effa-4866-a917-9fbeb87d98da","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-34913b0b-0de9-43e4-9ef8-e3811cc3e224","keyframes":{"transform":["translate3d(-143.20388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c5d3fc3f-40b8-4d96-a4e0-dbd4d380433a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-06ee6ee3-a521-4ed7-b9ec-dca60ab33390","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Brush Stroke cinemanila Image Source: Google

As a result of this dispute, in 2021, a court order from the Madras High Court mandated the airline's closure.

[{"selector":"#anim-861f20d9-0465-48b2-8811-934c88a087a0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.951612775505016%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-63450c60-e61c-40d2-ae10-de493c9f146a","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8a866e90-6437-44d7-8077-b9b8049d0c0c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a7c0cf06-111c-4dcc-909d-e6a952b6d805","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b8fa7f8b-1e51-4277-a2d9-e473fb8eda8f","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b0e51110-71c4-4e01-a48b-1b7fbc57f423","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dab23c16-9bca-465c-bccd-167a5785d111","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-bf19bd8f-8e98-4280-83f2-c2f65c2a4e5e","keyframes":{"transform":["translate3d(-136.03238%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4b64f3c4-18db-4056-b584-993dad4da8dd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c10968d9-6355-4815-87e7-d31fcc9877ec","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-65f7aadd-ae5f-4602-8d8c-5747b4d02656","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-21473e1b-76a9-4a63-b3ee-e690dda6028b","keyframes":{"transform":["translate3d(-143.20388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cfb168da-52e2-4b59-a8a4-1fa2d4541a6d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-428207da-6570-4282-9244-3dfbb0e77ba2","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Brush Stroke cinemanila Image Source: Google

This decision led Credit Suisse and SpiceJet to engage in discussions with the aim of reaching a settlement."

[{"selector":"#anim-1fbb4f8d-cd63-4864-aa3c-bd24513dfef6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.65060230436308%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-7f8efbd2-9ffe-4503-81e0-85ae9374dd5b","keyframes":{"transform":["translate3d(-122.68371%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c854743d-89f3-417e-a0e1-fb411fdb7e50","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf140d3c-1c65-4661-94a2-6f3966d6a6e1","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-78bf549b-9f3f-4a85-ace6-e5fdc6526833","keyframes":{"transform":["translate3d(-57.32165%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-89888e4f-df19-4684-b101-98106003390b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f8493ca4-1d0b-4b63-a2d7-c4cd8c2d67c1","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-eb071f49-5a07-45c8-883e-739ef54e443f","keyframes":{"transform":["translate3d(-136.03238%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2e876540-604b-4bed-b07d-0653ffe3d938","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1b4bea9b-28b4-4398-9697-5e04884a6292","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-bc3523e7-c76b-4ab1-9502-f5fb39f97c13","keyframes":[{"offset":0,"transform":"rotate(-270deg) translate3d(0, -1134.39109%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-270deg) translate3d(0, -318.990774508%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-270deg) translate3d(0, -108.447788204%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-270deg) translate3d(0, -40.724640131%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-270deg) translate3d(0, -17.696501004%, 0) rotate(270deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-270deg) translate3d(0, 0%, 0) rotate(270deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] [{"selector":"#anim-aa95cd8b-b9d9-488d-8dc1-1a6c7e5e0dbb","keyframes":{"transform":["translate3d(-143.20388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e6fc03a7-7f8c-4520-b0c8-32a913ca57e6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-84ed93e1-7b3c-4609-a853-821f24ecc499","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Brush Stroke cinemanila Image Source: Google