SpiceJet Board Approves Capital Infusion of Rs 2,250 Crore
SpiceJet's Chairman and Managing Director, Ajay Singh, sees this capital raise as significant for strengthening the airline's financial position, enhancing operational capabilities, resolving outstanding issues, and positioning the airline for sustained growth in the aviation sector. Singh expresses confidence in achieving the goal of building a world-class airline in India through this capital infusion.
SpiceJet faces new bankruptcy code rider in case vs aircraft lessors
The next hearing in the cases is expected to come up on November 7.
SC asks SpiceJet to pay $1 million/month to Credit Suisse for the next six months
A bench of Justices Vikram Nath and Ahsanuddin Amanullah said that in addition to the regular payment of $500,000 per month, the budget airline will also clear arrears of $3 million in six installments, thus making an effective transfer of $1 million every month to Credit Suisse.
SpiceJet CMD, complainant settle shares transfer dispute, HC told
The case revolves around an allegation by the businessman and his family that they had entered into a share purchase agreement with Singh, paid Rs 10 lakh for 10 lakh shares, but did not receive them.
SpiceJet pays $1.5 mn to Credit Suisse after SC warning
"SpiceJet Ltd. has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse. The payment was executed on Thursday," said an airline spokesperson.
SpiceJet disburses Rs 100 cr to Kalanithi Maran as part of arbitral award
"SpiceJet Ltd. has completed the payment of Rs 100 crore to Kal Airways Private Limited. While a payment of Rs 77.5 crore had been made to Kal Airways till September 11, the remaining Rs 22.5 crore was paid on Tuesday," said the airline spokesperson.
SpiceJet’ Board grants approval for issuance of equity shares
In an exchange filing, the company said: "This is to inform you that the Allotment Committee of the Board of Directors of the Company at its meeting held on September 4, 2023 from 4:00 p.m. to 4:15 pm., has, inter-alia, considered and approved allotment of 3,41,72,000 equity shares of the face value of Rs.10 each at an issue price of Rs.29.84 each on preferential basis to Spice Healthcare Private Limited (an entity under ‘promoter group’)."