SpiceJet and MD Ajay Singh have assured to pay Rs 140 crore to the Delhi High Court. This amount will be given to Kalanidhi Maran in installments. The court has directed the company to deposit Rs 50 crore in 45 days.
New Delhi [भारत]July 13 (ANI): SpiceJet Ltd and its managing director Ajay Singh on Monday assured the Delhi High Court that they will pay Rs 140 crore to KAL Airways Pvt Ltd and Kalanithi Maran in connection with execution proceedings related to an arbitration award. The case was heard by Justice Subramaniam Prasad.
Payment will be made in two installments
During the hearing, SpiceJet’s counsel drew the court’s attention to an additional affidavit filed on July 10, which stated that the airline and its managing director undertake to deposit Rs 50 crore with the registry within 45 days, and thereafter Rs 90 crore in the next 90 days. Accepting this undertaking, the High Court directed SpiceJet and Ajay Singh to deposit the first installment of Rs 50 crore within 45 days to demonstrate their bona fides in complying with the earlier directions of the Court.
The court has listed the matter for September 21, 2026, to monitor compliance with the payment schedule. The court also postponed further consideration of SpiceJet’s plea under Section 34 of the Arbitration and Conciliation Act, 1996, through which the airline and Ajay Singh have challenged the arbitration award. The Court indicated that the challenge would be considered after following the submission instructions.
Supreme Court did not give relief
The petition seeking additional time to make the payment was filed after the Supreme Court, by its order dated May 19, 2026, refused to interfere with the earlier direction of the Delhi High Court, requiring SpiceJet and Ajay Singh to deposit the amount awarded in the arbitration.
Senior advocate Mukul Rohatgi appeared virtually for SpiceJet and Ajay Singh, while senior advocate Jayant Mehta represented KAL Airways Pvt Ltd and Kalanidhi Maran.
The dispute arises out of an arbitration award passed in favor of KAL Airways Private Limited and Kalanithi Maran. Earlier, the Delhi High Court had directed SpiceJet and Ajay Singh to deposit Rs 144 crore during the pendency of the proceedings. (ANI)
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