New Delhi: A day after the Supreme Court refused to give more time to SpiceJet in connection with interest payment related to an arbitral award, an airline official on Saturday said it is confident of resolving through talks the issues with Kalanithi Maran, and his KAL Airways. On Friday, the Supreme Court declined to extend the time for making payment to media baron Kalanithi Maran and his KAL Airways in pursuance of an arbitral award of Rs 578 crore related to a share-transfer dispute. The case and the final order are still pending before the Delhi High Court, the official said, adding that Rs 380 crore is only the deposit amount.
Interest payment row: SpiceJet official says confident of resolving issues through talks with Maran
Following the refusal of the Supreme Court to give more time to SpiceJet in connection with interest payment related to an arbitral award, an official from the airline said on Saturday that the issues will be resolved through talks.
SpiceJet flight
The official also claimed that the airline is engaged in talks with Kalanithi Maran and KAL Airways for a full and final settlement of the interest amount. The airline is confident of resolving this to the satisfaction of both sides, as done successfully with many of its partners, through talks, the official said. Earlier in the case, the Delhi High Court, on June 1, had directed SpiceJet to deposit "forthwith" Rs 75 crore that has to be paid to Maran and his KAL Airways towards interest on the arbitral award. In a statement on Friday, the airline said the matter relates to the payment of interest on a principal amount of Rs 578 crore that has already been paid. The airline remains committed to finding an amicable settlement, it had said. (PTI)
New Delhi: A day after the Supreme Court refused to give more time to SpiceJet in connection with interest payment related to an arbitral award, an airline official on Saturday said it is confident of resolving through talks the issues with Kalanithi Maran, and his KAL Airways. On Friday, the Supreme Court declined to extend the time for making payment to media baron Kalanithi Maran and his KAL Airways in pursuance of an arbitral award of Rs 578 crore related to a share-transfer dispute. The case and the final order are still pending before the Delhi High Court, the official said, adding that Rs 380 crore is only the deposit amount.
The official also claimed that the airline is engaged in talks with Kalanithi Maran and KAL Airways for a full and final settlement of the interest amount. The airline is confident of resolving this to the satisfaction of both sides, as done successfully with many of its partners, through talks, the official said. Earlier in the case, the Delhi High Court, on June 1, had directed SpiceJet to deposit "forthwith" Rs 75 crore that has to be paid to Maran and his KAL Airways towards interest on the arbitral award. In a statement on Friday, the airline said the matter relates to the payment of interest on a principal amount of Rs 578 crore that has already been paid. The airline remains committed to finding an amicable settlement, it had said. (PTI)
