SpiceJet seeks more time to pay ₹50 crore instalment to Maran
SpiceJet has asked the Delhi High Court for additional time to pay a ₹50 crore instalment to Kalanithi Maran and KAL Airways, citing a delay in receiving government emergency credit. The court is set to review compliance on 21 September, with ₹144.5 crore still due under the settlement.
What happened
SpiceJet sought more time to pay a ₹50 crore instalment to Kalanithi Maran and KAL Airways, citing delayed government emergency credit. The Delhi High Court
Key facts
- ₹50 crore first instalment
- ₹144.5 crore total payment due
- ₹349 crore expected second government credit tranche
- ₹95 crore remaining instalment
- ₹194.51 crore recorded outstanding
- ₹679 crore infused by Maran
- ₹579 crore arbitral refund award
- ₹270 crore bank guarantee
- ₹75 crore interest payment
- ₹729 crore reportedly paid
Why this matters
The unresolved settlement and reliance on government credit may limit SpiceJet’s flexibility to pursue partnerships, asset deals or other strategic transactions.
What to watch
- Delhi High Court compliance hearing on 21 September and whether an extension is granted.
- Confirmation, amount and timing of the government emergency-credit tranche.
- Any payment made toward the remaining ₹144.5 crore settlement balance.
- Further Maran/KAL Airways enforcement filings or objections to revised terms.
- Changes in grounded aircraft count, flight cancellations, lessor disputes or vendor-payment complaints.
- Seek a court-approved revised payment calendar tied to the government credit receipt.
- Prioritize settlement payment over discretionary fleet-expansion spending.
- Pursue bridge financing, lessor negotiations and vendor-payment rescheduling to protect near-term operations.
- Use any credit disbursal to address both legal dues and aircraft-return-to-service needs, limiting the operational benefit of the funds.
Also reported by
- Mint · Companies — Same time