 "SpiceJet")
SpiceJet on Tuesday said it has completed the payment of Rs 100 crore to Kal Airways Private Limited.
"While a payment of Rs 77.5 crore had been made to Kal Airways until 11 September, the remaining Rs 22.5 crore was paid today," SpiceJet's release said.
This was after the Delhi High Court on Monday gave SpiceJet's Chairman and Managing Director Ajay Singh time until 12 September to pay the remaining money towards the Rs 100 crore arbitral award dues to the Chairman and Founder of the Sun Group and promoter of Kal Airways, Kalanithi Maran.
The Rs 100 crore is part of the entire arbitral award (of over Rs 380 crore) in favour of Kal Airways and Maran.
Maran's counsel told the court on Monday that Singh had time to make the payment from 24 August until 11 September, but he had not done so.
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After Singh's counsel told the court that they had paid Maran Rs 62.5 crore and were carrying a cheque for Rs 37.5 crore in Maran's name, the court told Singh to pay the remaining amount by the end of Monday or by Tuesday.
The next hearing is likely to be on 3 October.
The Delhi High Court on 24 August told Chairman and Managing Director Singh to pay Rs 100 crore dues to Maran by 10 September.
The court warned that if Singh fails to do this, SpiceJet's properties will be attached by the court towards the payment of dues. Singh was present in person before Justice Yogesh Khanna as per the court's direction on 24 July.
