SpiceJet pays Rs 100 crore to Kalanithi Maran

PTI

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.

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