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SpiceJet pays Kal Airways Rs 100 cr towards arbitral award after court order
TIWN
TIWN
PHOTO : TIWN
New Delhi, Sep 12 : SpiceJet has paid Rs 100 crore to Kal Airways promoter Kalanithi Maran, as part of a Rs 380 crore arbitral award order, following a directive from the Delhi High Court, instructing the low-cost airline to fulfill the payment obligation.
"SpiceJet has completed the payment of INR 100 crore to Kal Airways Private Limited. While a payment of Rs 77.5 crore had been made to Kal Airways till September 11, the remaining Rs 22.5 Crore was paid today," the company said in a statement. On August 24, the court had asked SpiceJet and Singh to pay Rs 100 crore to Maran by September 10, failing which the court had said it might consider the attachment of their properties.
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