High Court Directs SpiceJet To Clear $2.67-Million Dues To Team France 01 SAS In A Week
The total amount payable to Team France stands at $6 million.
The Delhi High Court directed SpiceJet Ltd. on Thursday to pay $2.67 million to Team France 01 SAS within a week over a dispute stemming out of non-payment of dues for three leased aircraft.
Team France is a France-based lessor that leased engines and planes to SpiceJet. As of now, the total amount payable to Team France stands at $6 million.
To make up for the balance amount, the bench directed the low-cost carrier to deposit the remaining $3.33 million in the high court in an interest-bearing fixed deposit within three weeks.
During the hearing, the high court called out SpiceJet for its noncompliance with the court's orders and said that the "majesty of this court cannot be diluted."
It said that the court cannot be taken for a ride and warned the airline for pushing the limits of the court. "We despise the manner in which this court has been taken for a ride," the court said.
The three aircraft in question have been returned to Team France. In May, the high court had directed SpiceJet to pay Team France the amount of $6 million. The airline's failure to make the payment on time prompted Team France to file a petition seeking execution of the high court's decision.
Thereafter, in a hearing on Dec. 10, when the summons was issued, the counsel representing SpiceJet sought an adjournment in the matter. The counsel's request did not sit right with the high court, which forced it to direct the personal presence of the CEO and COO. Incidentally, both the CEO and the COO positions at SpiceJet are lying vacant as of now.
To make up for their absence, Ajay Singh, the chairperson and managing director of SpiceJet, was present before the court on Thursday.
