HC asks SpiceJet to deposit Rs.144 cr to Maran
New Delhi, March 19 -- The Delhi high court on Wednesday directed budget airline SpiceJet to deposit Rs.144.5 crore within four weeks to Kalanithi Maran and KAL Airways Pvt Ltd in their ongoing arbitration dispute, while rejecting the airline's plea to substitute the amount with an immovable property in Gurgaon.
"Dismissed. I am extending the time by four more weeks to deposit the money. Sell the property in four weeks," a bench of justice Subramonium Prasad said. The court passed the order while hearing SpiceJet's application, which sought modification of the HC's January 19 order and requested permission to substitute the deposit with an immovable property valued at Rs.148 crore instead of making an upfront cash deposit.
On January 19, th...
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