New Delhi, September 12
SpiceJet has paid Rs 100 crore to Kal Airways’ promoter Kalanithi Maran, as part of a Rs 380 crore arbitral award order, following a directive from the Delhi High Court on Monday, instructing the low-cost airline to fulfill the payment obligation.
“SpiceJet Ltd. has completed the payment of Rs 100 crore to Kal Airways Private Ltd. While a payment of Rs 77.5 crore had been made to Kal Airways till September 11, the remaining Rs 22.5 crore was paid on Tuesday,” an airline spokesperson said. “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. To date, SpiceJet has already paid a total of $8 million to Credit Suisse,” the spokesperson added.
Most Read In 24 Hours
Don't MissView All
Nijjar was killed in Surrey in British Columbia on June 18
Serious matter, cooperation must: Canadian PM
Says Indian railways is the most trusted co-passenger of cou...
Says those occupying positions of influence are resisting th...
Probably winning Telangana, certainly winning Madhya Pradesh and Chhattisgarh, 'very close' in Rajasthan: Rahul
Speaking at a conclave, the Congress leader says idea of ‘on...