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Court rejected SpiceJet's plea for more time in the Madras arbitration case, after it failed to deposit even the first installment of 50 crore rupees
By ScoutQuest · · 1 min read
- Total arbitration award
- 145 crore rupees
- First installment ordered
- 50 crore rupees
- Time given to deposit
- 90 days
Heard on business television between 12:53:51 - 12:56:51 IST.
- Case involves a 145 crore rupee arbitration award from Madras court.
- Court had earlier allowed SpiceJet to deposit 50 crore of the 145 crore within 90 days (order dated July 13th), which SpiceJet undertook to do.
- That deadline expired and SpiceJet did not deposit the 50 crore installment.
- SpiceJet then asked for more time and offered its property as security instead of cash.
- Court refused, saying since no payment was made under the undertaking, it cannot extend time or accept property as security; the full 145 crore remains unpaid.
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Source: Live TV News Channel · 13 Oct 2026
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