Domestic no-frills service SpiceJet mentioned on Wednesday mentioned it has signed and concluded the settlement and consent phrases with Credit Suisse in a pending dispute with the latter.
The settlement and consent phrases, executed on May 23, have additionally been filed earlier than the Supreme Court for remaining orders, the airline mentioned in a press release.
The settlement entails cost of a certain quantity upfront and the steadiness quantity over a mutually agreed timeline, SpiceJet mentioned with out giving particular particulars.
The airline mentioned it had already supplied a financial institution assure of USD 5 million underneath the course of the Madras High Court within the matter and there’s no adversarial monetary legal responsibility on the corporate.