The Delhi High Court on Monday upheld an arbitral award passed by the tribunal comprising three retired Supreme Court judges in the matter of low-cost airline SpiceJet and Kal Airway's promoter Kalanithi Maran, favouring the latter.
SpiceJet aircraft caught fire at the Indira Gandhi International Airport in Delhi on Tuesday, officials said.
The apex court on July 7 declined SpiceJet’s application to extend the deadline for making a Rs 380 crore interest payment to Kal Airways.
India's civil avaiation regulator, the Directorate General of Civil Aviation (DGCA) has put SpiceJet under "enhanced surveillance" but there is no operational impact on the airline, an official said on Tuesday
As the insolvency issue of SpiceJet heats up, prior red-flagging to the company by the Directorate General of Civil Aviation (DGCA) had pointed out long awaited trouble for the aviation giant.
SpiceJet has restructured over $100 million outstanding dues to Carlyle Aviation Partner, into equity shares and compulsorily convertible debentures (CCDs).
A senior DGCA official said that SpiceJet can operate at full capacity from October 30 onwards. During the 'Enhanced surveillance' period, SpiceJet has shown improvement in their operations, said an official. On September 21, DGCA had extended flight capacity restrictions on SpiceJet till October 29.