SpiceJet seeks Delhi HC time to pay Kalanithi Maran 50L/cr
SpiceJet is asking the Delhi High Court for extra time to pay ₹50 crore to Kalanithi Maran and KAL Airways, which is just the first chunk of a total ₹144.5 crore it owes.
Even though SpiceJet received the first tranche of emergency credit support from the government in June, its lawyer says that cash had to go straight into keeping flights running.
Court to review SpiceJet Sept 21
The airline had agreed on 13 June to pay up by August 27, but it missed the deadline.
The court will check in on its progress on September 21.
This money fight actually goes back to 2015, when Maran and KAL Airways transferred their 58.46% stake in SpiceJet to promoter Ajay Singh during a period of severe financial stress at the airline.
Since then, disputes over unpaid dues and legal awards have kept things tense between both sides.