Delhi High Court reserves order on SpiceJet ₹144 cr deposit
Business
SpiceJet is waiting on a big decision from the Delhi High Court, which has reserved order on its earlier order asking the airline to deposit ₹144 crore in an ongoing dispute with Kalanithi Maran and Kal Airways.
The case goes back to Ajay Singh's takeover of SpiceJet during its 2015 financial crisis, and things have been dragging on since January.
SpiceJet offers Gurugram property as security
With money tight, especially after recent troubles in West Asia, SpiceJet has offered up a Gurugram property as security instead of paying cash.
Their lawyer says this is allowed under the rules, but Maran's side isn't convinced.
They pointed out that the Supreme Court already shot down SpiceJet's claims about being too broke to pay, so they want the original order to stand.