The Delhi High Court has ordered SpiceJet to pay Rs 380 crore to the airline’s former promoter Kalanithi Maran in an interest payment case between KAL Airways and the company.
The Delhi HC’s ruling of May 29 comes after the airline failed to pay Rs 75 crore to Maran as directed by the Supreme Court of India.
Besides, the Delhi High Court ordered the airline to submit an affidavit of its assets within four weeks.
“Since the judgment debtor had failed to pay an amount of Rs.75.00 crore to decree holder, hence in terms of para 15(ii) of the order dated 13.02.2023 of the Hon’ble Supreme Court, there is no other alternative except to call upon the judgment debtors to deposit the entire outstanding amount qua interest forthwith, thus is so directed,” the order read.
“Affidavit of assets be also filed within four weeks from today.”
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On its part, SpiceJet says that it has paid up the principal amount to Maran. However, interest payment is still pending.
A SpiceJet Spokesperson said, “SpiceJet is already in discussions with Mr Kalanithi Maran and his firm KAL Airways for comprehensive settlement of the matter.”
“We are confident of resolving the same mutually as we have already paid the entire principal amount of Rs 578 crore earlier awarded by the Arbitral Tribunal.”
