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NEW DELHI: SpiceJet on Monday agreed to settle its dues to businessman Kalanithi Maran and Credit Suisse after the Delhi HC threatened “drastic action” if the carrier and its promoter Ajay Singh failed to make the payment by Tuesday. “Enough of this dilly-dally business… We are not bothered even if you die,” one of the two judges said during the hearing which was attended by SpiceJet chief Ajay Singh, a Reuters report said.
The HC was hearing an execution plea filed by Maran and his firm Kal Airways, who contended that no stay has been granted by the division bench in the appeal filed by Spicejet and Ajay Singh.
Singh’s lawyer said the money could not be deposited due to the bank holiday and considering September 10 was a Sunday, they are entitled to an extra day to make the payment. Earlier, the HC had directed SpiceJet to pay Rs 100 crore by September 10, 2023.
“SpiceJet has made a payment of Rs 77.5 crore to Mr. Kalanithi Maran and will complete the payment of Rs 100 crores tomorrow… 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. Till date, SpiceJet has already paid $8 million to Credit Suisse,” it said.
The HC was hearing an execution plea filed by Maran and his firm Kal Airways, who contended that no stay has been granted by the division bench in the appeal filed by Spicejet and Ajay Singh.
Singh’s lawyer said the money could not be deposited due to the bank holiday and considering September 10 was a Sunday, they are entitled to an extra day to make the payment. Earlier, the HC had directed SpiceJet to pay Rs 100 crore by September 10, 2023.
“SpiceJet has made a payment of Rs 77.5 crore to Mr. Kalanithi Maran and will complete the payment of Rs 100 crores tomorrow… 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. Till date, SpiceJet has already paid $8 million to Credit Suisse,” it said.
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