SpiceJet pays ₹4.53-cr principal amount dues to AAI; seeks time to pay interest
Mumbai |
Updated on
Forum Gandhi
SpiceJet has made partial payments of dues towards the Airports Authority of India to avoid encashment of its bank guarantee. It has paid ₹4.31 crore as upfront cash, partial interest payment of ₹14 lakh, ₹20 crore TDS till December 2020.
The debt-strapped airline has also proposed to pay the rest TDS amount in two instalments before June 30 and requested waiver of interest dues.
According to a letter submitted by SpiceJet to AAI on April 1, the low-cost carrier said that it has paid ₹4.53 crore as on March 31, thus bringing the current outstanding principle amount of of ₹115.41 crore within 75 per cent of bank guarantees and 100 per cent of cash deposit towards total security cover of ₹153.63 crore complying with the settlement proposal.
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During the quarter, pursuant to the buyback option embedded in the home loan arrangement between HDFC and HDFC Bank, the corporation assigned loans worth Rs 7,503 crore to the bank
PTI | April 3, 2021 | Updated 17:27 IST
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