SpiceJet, on Friday, paid off ten months of Provident Fund (PF), Economic Times reported. It had settled all Goods and Services Tax dues and payables earlier.
“SpiceJet is happy to declare that in less than a week of raising fresh funds through QIP, the airline is glad to inform that all pending salary and GST dues have been cleared and good progress made by depositing ten months of PF dues, and other outstanding dues are in the process of being cleared,” said an airline spokesperson.
This besides, the company amicably resolved its disputes with a few of the lessees. For example, SpiceJet has settled its long-standing dispute with ELFC on September 24, 2024. The amount in dispute is not disclosed yet; however, ELFC had put the amount at $16.7 million.
This apart, the company had fetched ₹3,000 crore through QIP last month with big-ticket participation of high net worth investors like Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd.
It had earlier reported the non-payment of TDS amounting to ₹220 crore made on employee salaries between April 2020 and August 2023.