SpiceJet furnishes Rs 329 cr bank guarantee to court

Updated: Thu, Aug 17, 2017
10:59 pm
PTI
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SpiceJet has furnished a bank guarantee of Rs 329 crore to the Delhi High Court in a case related to share transfer dispute with the airline's previous owner Kalanithi Maran, according to a regulatory filing.

Last month, the Supreme Court dismissed the appeals of the budget carrier challenging the Delhi High Court verdict asking it to deposit Rs 579 crore in connection with the share transfer dispute.

"The company has furnished a bank guarantee of Rs 329 crore to the Registrar General of High Court of Delhi," in compliance with the Supreme Court order, the airline said in a filing to the BSE late Wednesday.

As per the filing, the Supreme Court had modified the Delhi High Court's impugned order and extended the time limit for furnishing of bank guarantee and cash deposit by two weeks -- August 14, and September 14, respectively.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)