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
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
In September 2021, SpiceJet had taken shareholders’ approval to transfer it’s cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 cr. In it’s board meetings dated February 27, 2023, it has finally fixed April 1, 2023 as the date from which cargo business … Read more
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
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
The Directorate General of Civil Aviation (DGCA) on Thursday allowed Boeing 737 Max to fly in Indian airspace again, after carrying out the required safety modifications. The Boeing 737 Max planes were grounded globally in March 2019 after two crashes within 5 months. Recently, these planes were allowed to fly again by regulators of different … Read more