You can pay for Go First, you can't pay Credit Suisse: SpiceJet boss gets SC rap

The Supreme Court pulled up SpiceJet chairman and managing director (CMD) Ajay Singh for not clearing the dues of Credit Suisse, directing him to pay up by March 15.

Appearing for Credit Suisse, senior advocate Siddhartha Dave told a bench of Justices Hima Kohli and Ahsanuddin Amanullah that as of Feb. 15, the budget carrier was in default of $1.25 million. 

"We're giving you a long rope, don't take any risks in this matter," the apex court told SpiceJet. 

The $1.25-million amount in arrears was disputed by SpiceJet on the ground that the dues have been paid, though late. "There is no scope of any belated payment in this case. Therefore, Credit Suisse is justified in saying that the amounts have not been paid," the bench said.

Referring to reports that SpiceJet has bid for Go First's revival, the top court questioned why, even after having such a cushion, the payments were not being made. 

Go First stopped flying on May 3, 2023 and its plea for voluntary insolvency resolution proceedings was admitted by the National Company Law Tribunal (NCLT) on May 10 last year.
“Why don’t we take judicial notice of the news paper reports that you’re planning to take GoAir? You have that much of cushion and you won’t repay?” the court said, referring to the airline with its earlier name.