Submit financials in one week, Delhi HC tells SpiceJet

The Delhi high court has issued SpiceJet a notice directing it to submit its accounts statement and asset-liability affidavit within a week. The court has also summoned the airline’s chairman and managing director Ajay Singh, to appear in person on 24 August for the hearing. The court’s action comes on a plea filed by Kalanithi … Read more

SpiceJet must pay Marans entire ₹380 crore, says SC

A bench presided over by Chief Justice D.Y. Chandrachud and comprising Justice P.S. Narasimha dismissed Spicejet’s plea seeking additional time to pay the ₹75 crore to Maran and Kal Airways, as directed by the apex court on 13 February. Besides, the bench said that a clear message should be sent to ensure the court’s orders … Read more

Spicejet settles with AAI. Also rumoured to be in stake sale discussions.

Spicejet has informed that it has settled with Airports Authority of India (AAI) and has cleared all the ‘principal’ dues. Financial difficulties of the airline are widely known. It has been defaulting/ delaying on most of it’s financial commitments. It was moved to ‘cash and carry system’ in airports run by the AAI. Spicejet has … Read more

Blackrock flags concern about SpiceJet’s accounting practices

As per a news report by Mint newspaper, Blackrock (US based large fund manager) had highlighted accounting irregularities at SpiceJet in December 2021. Key points to note: Blackrock had raised the issue of accounting irregularities at the time of rejecting re-appointment of Shivani Singh (wife of the promoter CMD, Ajay Singh) as Director. Blackrock rejected … Read more