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