SpiceJet Ltd requested more time from the Delhi High Court on Monday to pay the first ₹50 crore instalment of a ₹144.5 crore debt owed to Kalanithi Maran and KAL Airways Pvt. Ltd. The outstanding amount was recorded by the court at ₹194.51 crore, with ₹50 crore already deposited by SpiceJet and its promoter Ajay Singh, leaving ₹144.5 crore to be paid.
Senior advocate Mukul Rohatgi, representing SpiceJet, made the plea for an extension during the court proceedings. The case involves a long-running financial dispute between SpiceJet and the Maran group. The Delhi High Court had earlier directed SpiceJet and Ajay Singh to pay the remaining ₹144.5 crore after adjusting the amount already deposited.
This development highlights the ongoing financial challenges faced by SpiceJet, a budget airline in India. The airline's ability to meet its financial obligations is under scrutiny as it navigates operational and legal hurdles. The case is significant given the size of the debt and the involvement of prominent industry figures, reflecting broader issues in the Indian aviation sector.
The Delhi High Court's recording of the ₹194.51 crore outstanding debt and the directive to pay ₹144.5 crore after adjustment sets a clear financial benchmark. The court's next hearing will determine whether SpiceJet is granted the requested extension to make the payment.