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Delhi HC defers Kal Airways' Kalanithi Maran's plea against SpiceJet CMD to Oct 9
The Delhi High Court on Tuesday deferred, to October 9, hearing on Kal Airways' promoter Kalanithi Maran’s plea against SpiceJet Chairman and Managing Director (CMD) Ajay Singh over paying him a Rs 100 crore arbitral award
New Delhi: The Delhi High Court on Tuesday deferred, to October 9, hearing on Kal Airways' promoter Kalanithi Maran’s plea against SpiceJet Chairman and Managing Director (CMD) Ajay Singh over paying him a Rs 100 crore arbitral award
On September 11, the high court had given Singh time till September 12 to pay the remaining amount.
On September 12, the low-cost airline SpiceJet paid Rs 100 crore to Maran as part of a Rs 380 crore arbitral award order.
"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," a SpiceJet spokesperson had said.
On August 24, the court had asked SpiceJet and Singh to pay Rs 100 crore to Maran by September 10, failing which the court had said it might consider the attachment of their properties.
Singh's lawyer had, on September 11, told the court that they had paid Maran Rs 62.5 crore and were carrying a cheque for Rs 37.5 crore in his name. However, counsel for Maran had argued that they had time from August 24 to date to make the payment but they have delayed it.
The court had then asked Singh and the airline to pay the remaining amount by the end of the day or by September 12.
On August 9, the court had issued notice on Kal Airways and Maran's application seeking 50 per cent of the daily revenue collection of SpiceJet to be paid to them on a weekly basis. Justice Yogesh Khanna had directed the airline and the CMD to file an affidavit disclosing their assets and their revenue collection within one weeks' time.
