GulfHindi English Desk: Private airline company SpiceJet is facing various payment and legal battles. Amidst these issues, the company’s upcoming board meeting is scheduled for July 12. In this board meeting, the possibility of raising new funds through equity shares or other means will be discussed.
SpiceJet has informed the stock market that the plan to raise funds will depend on the shareholders and regulatory approvals. The commercial proposal for the proposed financial support is based on the idea that if the company receives new funds, it will be able to address its financial problems.
SpiceJet is also facing crises on various fronts. Recently, the airline company Air Castle filed a new bankruptcy petition against SpiceJet, claiming non-payment of dues. This is the third bankruptcy case filed against SpiceJet.
The company is also facing legal battles. The Indian Supreme Court has directed the company’s former promoter, Kalanithi Maran, to pay the full interim amount of ₹380 crore. In addition, a London court has ordered SpiceJet to pay $15 million to two companies, GJSL Ireland and VS MASN.
SpiceJet is currently struggling with serious financial difficulties and has suffered significant losses due to the COVID-19 pandemic. It is hoped that the upcoming board meeting will discuss ways to reduce the company’s financial crisis.
The future of SpiceJet in the coming days will depend on the decisions made in its board meeting.
en.gulfhindi.com News Summary
👉SpiceJet is facing various financial and legal challenges.
👉The company’s upcoming board meeting on July 12 will discuss raising new funds through equity shares or other means.
👉The plan to raise funds is dependent on the approval of shareholders and regulatory authorities.
👉The company is facing a crisis on various fronts, including a lawsuit filed by Air Castle for unpaid dues and a court order to pay a settlement amount to former promoter Kalanithi Maran.
👉The financial crisis has been exacerbated by the impact of the COVID-19 pandemic.
👉The future of SpiceJet will depend on the decisions made in the board meeting.
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