India News | SpiceJet, Ajay Singh Undertake Before Delhi HC to Pay Rs 140 Crore in KAL Airways Arbitration Dispute
Get latest articles and stories on India at LatestLY. SpiceJet Ltd. and its Managing Director Ajay Singh on Monday assured the Delhi High Court that they would pay Rs 140 crore to KAL Airways Pvt Ltd and Kalanithi Maran in connection with execution proceedings arising from an arbitral award.
New Delhi [India], July 13 (ANI): SpiceJet Ltd and its Managing Director Ajay Singh, on Monday assured the Delhi High Court that they would pay Rs 140 crore to KAL Airways Pvt Ltd and Kalanithi Maran in connection with execution proceedings arising from an arbitral award.
The matter was heard by Justice Subramonium Prasad.
During the hearing, counsel for SpiceJet drew the Court's attention to an additional affidavit filed on July 10, stating that the airline and its Managing Director undertake to deposit Rs 50 crore with the Registry within 45 days, followed by Rs 90 crore within the next 90 days.
Accepting the undertaking, the High Court directed SpiceJet and Ajay Singh to deposit the first tranche of Rs 50 crore within 45 days to demonstrate their bona fides in complying with the Court's earlier directions. The Court posted the matter for September 21, 2026, to monitor compliance with the payment schedule.
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The Court also deferred further consideration of SpiceJet's petition under Section 34 of the Arbitration and Conciliation Act, 1996, through which the airline and Ajay Singh have challenged the arbitral award. The Court indicated that the challenge would be taken up after compliance with the deposit directions.
The application seeking additional time to make the payment was filed after the Supreme Court, by its order dated May 19, 2026, declined to interfere with the Delhi High Court's earlier direction requiring SpiceJet and Ajay Singh to deposit the amount awarded in arbitration.
Senior Advocate Mukul Rohatgi appeared virtually for SpiceJet and Ajay Singh, while Senior Advocate Jayant Mehta represented KAL Airways Pvt Ltd and Kalanithi Maran.
The dispute arises from an arbitral award passed in favour of KAL Airways Pvt Ltd and Kalanithi Maran. Earlier, the Delhi High Court had directed SpiceJet and Ajay Singh to deposit Rs 144 crore during the pendency of proceedings. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)