new delhi, April 14 -- SpiceJet told the Delhi high court it could "collapse" if forced to immediately deposit Rs.144.5 crore in its long-running dispute with Kalanithi Maran and KAL Airways Pvt Ltd, citing disruptions caused by the West Asia conflict and rising aviation turbine fuel prices. Appearing for the airline, senior advocate Mukul Rohatgi told the bench of Justice Subramonium Prasad on Monday that SpiceJet's operations and cash flows have been severely impacted, particularly due to restrictions on flights to the Gulf. "The entire business is held up. I am the smallest of the big three airlines. If my accounts are attached for non-deposit, the entire system will collapse-at least I will collapse," Rohatgi told the court, seeking time to arrange funds. After hearing the submissions, the court adjourned the matter to 15 April. SpiceJet moved a review petition on 7 April seeking relief from the high court's earlier direction requiring it to deposit Rs.144.5 crore by 14 April. The airline also proposed to furnish a one-acre commercial property in Gurugram as security instead of making an immediate cash payment. Rohatgi submitted that the property is unencumbered and owned by the company and that SpiceJet is willing to deposit the title deeds before the court. He said the airline has already taken steps to monetize the asset by appointing real estate advisory firm CBRE but argued that such transactions could take several months and should not be forced into a distress sale. "We should not have a crash sale which will give me 50%," he said, urging the court to grant additional time so that the asset can be sold at a fair value. Rohatgi further submitted that the broader aviation sector is under stress and indicated that the government may step in with relief measures. "I am told that the government is bringing out a package which will grant me a chance to get loans from PSU banks on governmental sovereign security. The government will stand security for the airlines," he said....