SpiceJet Settles 10 Months of Pending PF and Salaries for Employees

07 Oct 2024 CW Team

SpiceJet announced that it had deposited the pending salaries and provident fund contributions of its employees, which had been due for ten months. The airline also confirmed that it had successfully reached settlements with several lessors.

SpiceJet was pleased to report that within the first week of raising fresh funds through a Qualified Institutional Placement (QIP), it had cleared all outstanding salary and GST dues. Additionally, significant progress had been made in depositing ten months of provident fund dues, with the process of settling other pending liabilities still underway. The company also highlighted that it remained on track with the financial and operational plan laid out in its QIP strategy.

Last month, SpiceJet raised Rs 30 billion through the QIP, which opened on September 16 and closed on September 18. The placement received an overwhelming response from qualified investors and was significantly oversubscribed, reflecting strong confidence in the company's growth prospects. The QIP attracted a diverse group of top-tier institutional investors and mutual funds, including Goldman Sachs (Singapore), Morgan Stanley Asia, BNP Paribas Financial Markets ODI, Nomura Singapore Ltd ODI, Tata Mutual Fund, and Discovery Global Opportunity, among others.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..