Credit Suisse Ag vs. Ajay Singh

S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS

CONMT.PET.(C) No. 822/2023 in SLP(C) No. 1046/2022

CREDIT SUISSE AG & ANR. Petitioner(s)

VERSUS

AJAY SINGH & ANR. Respondent(s)

(FOR ADMISSION ) WITH CONMT.PET.(C) No. 823/2023 in SLP(C) No. 1082/2022 (XII) (FOR ADMISSION)

CONMT.PET.(C) No. 824/2023 in SLP(C) No. 1119/2022 (XII) (FOR ADMISSION)

Date : 11-09-2023 These petitions were called on for hearing today.

CORAM :

HON'BLE MR. JUSTICE VIKRAM NATH HON'BLE MR. JUSTICE AHSANUDDIN AMANULLAH

For Petitioner(s) Mr. Siddharth Dave, Sr. Adv. Mr. Rajendra Barot, Adv. Ms. Liz Mathew, AOR Ms. Priyanka Shetty, Adv. Mr. Ayush Chaddha, Adv. Mr. Prastut Dalvi, Adv. Ms. Ambareen Mujawar, Adv. Ms. Vasudha Jain, Adv. Ms. Mallika Agarwal, Adv.

For Respondent(s) Mr. Shyam Divan, Sr. Adv.*

UPON hearing the counsel the Court made the following O R D E R

Pursuant to order dated 14th August, 2023,

opposite parties nos. 1 and 2 are present in the

Court duly represented by their counsel.

Admitted position is that, as on date, as per the terms of settlement dated 23rd May, 2022, which was duly endorsed by this Court vide order dated 18th August, 2022, there is an outstanding arrear amounting to 4 millions US Dollars according to the respondents and 4.5 millions US Dollars according to the petitioners.

Today, a request has been made on behalf of the respondents seeking time to file response and also to indicate the way forward so as to ensure full commitment to regularise the aforesaid settlement.

As per the settlement, by the 15th of each month an amount of 500,000 US Dollars is to be paid/deposited by Spice Jet Ltd. to the petitioner(s).

In view of the above, as prayed, list the matters on 22nd September, 2023.

Both the opposite parties to again remain present in the Court on the next date of hearing and further file proof of deposit of the installment, due on 15th September, 2023 and also for an additional one million US Dollar out of the defaulted amount. Further orders will be passed on the said date taking into consideration the status of compliance.[

(SONIA BHASIN) COURT MASTER (SH) * Appearance slip not given

(RANJANA SHAILEY) COURT MASTER (NSH)