The Delhi High Court has ordered SpiceJet to pay Rs 75 crore to Kalanithi Maran and his Kal Airways as interest on an arbitral award of Rs 578 crore. The Supreme Court had ordered SpiceJet to pay the amount within three months, but the airline did not comply. Maran’s counsel claims that the interest liability has since increased to Rs 380 crore. SpiceJet’s lawyer said the company has already paid the principal amount and filed an application before the Supreme Court for a time extension. The high court agreed with Maran’s lawyer and directed the payment to be made forthwith. SpiceJet and its promoter Ajay Singh were previously asked to deposit Rs 243 crore as interest payable on Rs 578 crore under a share-transfer dispute arbitration award in 2018.
HC Orders SpiceJet to Pay Kalanithi Maran Rs 75 Cr for Arbitral Award Interest
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