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SpiceJet pays Kalanithi Maran ₹62.5 cr
Mint Mumbai
|September 12, 2023
SpiceJet paid ₹62.5 crore to Kalanithi Maran on Monday, and is planning to clear the remaining ₹37.5 crore within a day, to comply with a 24 August Delhi high court order in connection with the arbitral award.
In a separate development earlier in the day, the Supreme Court ordered the debt laden airline to settle dues to Credit Suisse by 22 September. The SC also warned SpiceJet and its promoter Ajay Singh, for not complying with its order in the case of defaults to Credit Suisse.
“SpiceJet acknowledges the legal process and is committed to complying with all court directives and obligations in the Credit Suisse case and will make the payment of $1.5 million as per the court directive. Till date, SpiceJet has already paid a total of $8 million to Credit Suisse," the airline said in a statement.
This story is from the September 12, 2023 edition of Mint Mumbai.
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