New Delhi, July 13 -- SpiceJet Ltd and its Managing Director Ajay Singh, on Monday assured the Delhi High Court that they would pay Rs 140 crore to KAL Airways Pvt Ltd and Kalanithi Maran in connection with execution proceedings arising from an arbitral award.

The matter was heard by Justice Subramonium Prasad.

During the hearing, counsel for SpiceJet drew the Court's attention to an additional affidavit filed on July 10, stating that the airline and its Managing Director undertake to deposit Rs 50 crore with the Registry within 45 days, followed by Rs 90 crore within the next 90 days.

Accepting the undertaking, the High Court directed SpiceJet and Ajay Singh to deposit the first tranche of Rs 50 crore within 45 days to demonstrate the...