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Sep 13 – SpiceJet said in a statement on Tuesday that it has paid Kal Airways and its promoter Kalanithi Maran Rs 100 crore on Tuesday out of a total order of Rs 380 crore for an arbitral award. The low-cost airline had been ordered by the Delhi High Court to finish the payment on Monday.
“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 statement added.
The airline was ordered by the court to pay Maran Rs 100 crore by September 10 last month. According to the order, if the airline doesn’t pay, the court can think about seizing its assets.
On Monday, the Supreme Court ordered the Ajay Singh-led airline to pay Credit Suisse $1.5 million and threatened “drastic action” if it failed to comply. Senior attorney Maninder Singh claimed on behalf of Maran that they currently owe Ajay Singh and his airline close to Rs 397 crore.
He said that Singh and SpiceJet had submitted an affidavit of assets and liabilities in compliance with the court’s directives. But it wasn’t in the legal format, and it wasn’t in a sealed cover.