Delhi High Court – The News Desk

SpiceJet on Tuesday paid Kal Airways and its promoter Kalanithi Maran Rs 100 crore out of an order of Rs 380 crore for an arbitral award, the airline said in a statement on Tuesday. On Monday, the Delhi High Court had asked the low-cost airline to complete the payment. "SpiceJet Ltd. has made a payment of Rs 77.5 crore to Kal Airways Private Limited and will complete the payment of Rs 100 crore today by paying Rs 22.5 crore as per the directions of the Hon’ble Delhi High Court," it said. "SpiceJet acknowledges the legal process and is committed to complying with all court directives and obligations in the Credit Suisse matter and will pay $1.5 million as per the court directive. To date, SpiceJet has already paid $8 million to Credit Suisse as per consent terms," the ...

Go First on Thursday told the National Company Law Tribunal (NCLT) that it will appeal the Delhi High Court order of July 5 which said the insolvent airline cannot fly the leased aircraft. “The respondent, Go Air, its directors, employees, agents, officers or representatives, or the Resolution Professionals (RP) or their representative as appointed by the NCLT are hereby restrained from removing, replacing, taking out any part or component, or any relevant operational or other manual records, documentation from any of 30 aircraft except with prior written approval of lessor of such aircraft,” the Delhi High Court said on Wednesday. It said there can be no denial that the aircraft of the petitioner lessors are highly valuable and sophisticated equipment and require ma...

Tag: Delhi High Court

SpiceJet pays Rs 100 crore to Kal Airways and Maran towards arbitral award

Go First RP, lessors slug it out in court over ‘right’ to fly planes