High Court summons SpiceJet MD – Times of India

by The Technical Blogs

NEW DELHI: The Delhi high court has asked SpiceJet MD Ajay Singh to appear before it in January in proceedings relating to a dispute over interest dues on arbitral award of over Rs 570 crore passed in favour of the airline’s former promoter Kalanithi Maran.

HC’s direction came after Maran’s lawyer said that while SpiceJet had to pay Rs 440 crore to them towards interest arising out of dues from an arbitral award, it had paid only Rs 100 crore.SpiceJet’s advocate argued the due according to them is only Rs 194 crore. The lawyer added that SpiceJet has been struggling to keep itself afloat and that pushing the company to pay in cash would be detrimental to all parties involved. TNN & agencies

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