HC tells SpiceJet’s Ajay Singh to pay Rs 100 crore to Maran by Tuesday
The Delhi High Court on Monday granted a momentary respite to SpiceJet’s Chairman and Managing Director (CMD) Ajay Singh. It gave him time till Tuesday to pay Rs 100 crore out of the over Rs 380 crore arbitral award dues to Chairman and Founder of the Sun group Kalanithi Maran.
Maran’s counsel told the court that Singh had time to make the payment from August 24 till September 11 but he had not done so.
Singh’s counsel told the court that they had paid Maran Rs 62.5 crore and were carrying a cheque for Rs 37.5 crore in Maran’s name. To this, the court told Singh to pay the remaining amount by Monday or Tuesday. The next hearing is likely to be on October 3.
