SpiceJet Ltd.’s shares were down by 4.48 per cent even as the company made a payment of Rs. 77.5 crore to Kal Airways Private Limited. Further, the company is set to complete the total payment of Rs. 100 crore today, adhering to the directives of the Hon’ble Delhi High Court.
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In acknowledgement of the legal process, SpiceJet is dedicated to upholding all court-mandated obligations regarding the Credit Suisse matter. It will disburse the specified amount of $1.5 million in accordance with the court’s instructions. To date, SpiceJet has already remitted a total of $8 million to Credit Suisse as per the agreed consent terms.
The shares were down by 4.48 per cent to Rs. 38.21 at 11.13 a.m. on the BSE.