SpiceJet board meeting to approve third quarter results adjourned to February 15

Stocks

The decision was taken after the audit committee’s meeting, also scheduled on February 14 to approve third-quarter financial results remained ‘inconclusive’ and was adjourned to February 15.

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Low cost carrier SpiceJet said its board meeting scheduled on February 14, to consider and approve the third-quarter earnings, has been adjourned to February 15.

The decision was taken after the audit committee’s meeting, also scheduled on February 14 to approve third-quarter financial results remained ‘inconclusive’ and was adjourned to February 15, SpiceJet said in a stock exchange filing.

“We wish to update that the Board Meeting of the Company scheduled

to be held on February 14, 2022 could not commence as the meeting of the Audit Committee for approval of the unaudited standalone and consolidated financial results for the third quarter ended December 31, 2021 remains inconclusive and adjourned to February 15, 2022 due to paucity of time”, read the statement.

Also Read: EXCLUSIVE | Sun Group CFO explains why the Marans turned down SpiceJet’s Rs 600 crore pay-out offer

Further, in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window is also closed up to February 17, 2022 (end of the day).

Notably, former promoter of SpiceJet Kalanithi Maran rejected the offer made by the airline for a one-time settlement to end the long-standing share-transfer dispute between the two parties, the Supreme Court was informed on February 14.

Maran’s lawyer, Senior Counsel Maninder Singh, informed the court today that the offer of lump-sum pay-out of Rs 600 crore is not found to be feasible. This, the counsel said, was because the total amount owed to Maran was around Rs 920 crore.