SpiceJet and its Managing Director Ajay Singh on Monday undertook before the Delhi High Court to pay Rs 140 crore to KAL Airways Pvt Ltd and its promoter Kalanithi Maran in connection with execution proceedings arising from an arbitral award, prompting the court to set a timeline for the payment.
Justice Subramonium Prasad accepted the undertaking after the airline informed the court, through an additional affidavit filed on July 10, that it would deposit Rs 50 crore with the court registry within 45 days and the remaining Rs 90 crore within the following 90 days.
