The Delhi High Court on Wednesday allowed Kal Airway's and its promoter Kalanithi Maran's application seeking 50 per cent of the daily revenue collection of low-cost airline SpiceJet Ltd to be paid to them on a weekly basis.
The court also asked SpiceJet to and its CMD (Chairman and Director) Ajay Singh to file an affidavit disclosing their assets and their revenue collection within a week.
Justice Yogesh Khanna issued a notice to the airline as well as Singh. He mandated Singh's presence on the next date of hearing, which has been fixed to August 24 from September 5.
Considering the willful default and lackadaisical attitude of SpiceJet and Singh, the judge reiterated his July 24 order and advanced the hearing.
During the hearing, Senior Advocate Maninder Singh submitted that in view of the willful defaults at every stage and laid back attitude it is just and fair that the Spicejet and Singh should deposit 393 crore approx. and file their affidavit of assets before the next date of hearing.
The counsel sought directions from the court for his client that the 50 per cent of the daily revenue collected by the judgement debtors be paid to decree holders -- Kal Airways and Kalanithi Maran -- on weekly basis, the affidavit of disclosure of assets be filed at the earliest, the statement of accounts be filed within one day in court and the main prayer i.e. entire arbitral awarded amount be paid to the decree holders.
On the other hand, Senior Advocate Sandeep Sethi admitted that the orders have not been complied with by Spicejet. However, he said that this is a fresh application listed on Wednesday and submitted that since the matter is already directed to be listed on September 5, the matter may be heard on that date as the judgment debtor -- SpiceJet and CMD -- is bound by court orders.
He also argued that there is no reason for allowing early hearing at this stage. To which, the judge then observed that the decree holder is not left with any other option but to move an early hearing application as the judgement debtor is not complying with the orders passed by the courts and the judgement debtor should have filed its affidavit of disclosure of assets till date.
09/08/2023 Economic Times
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