SpiceJet pays Rs 100 crore to Kal Airways owing to arbitral award after court order

13 Sep 2023 , 11:45 AM

SpiceJet, a low-cost carrier, paid Rs 100 crore to Kal Airways and its promoter Kalanithi Maran on Tuesday, a day after the Delhi High Court directed it to do so by September 12.

SpiceJet has paid Rs 100 crore to Kal Airways Private Limited. While a payment of Rs 77.5 crore was provided to Kal Airways until September 11, the remaining Rs 22.5 crore was paid on September 12, according to a statement from the business.

On August 24, the court ordered SpiceJet and Singh to pay Rs 100 crore to Maran by September 10, failing which the court threatened to attach their assets.

On August 9, Justice Yogesh Khanna told the airline and the CMD to produce an affidavit identifying their assets and income collection within one week, and he ordered Singh to appear at the next hearing date.

Singh argued that given the SpiceJet and Singh’s intentional defaults at every level and laid-back attitude, it is equitable and fair that they deposit Rs 393 crore and file their affidavit of assets before the next date of hearing.

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