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Responding to media reports that summons have been issued to SpiceJet Ltd on non-deposit of TDS, the company said on Wednesday there were some delays in doing so in 2014.
But it was because of the severe liquidity crisis. “But despite those challenges, all outstanding tax liabilities have been settled,” said Kiran Koteshwar, CFO of the low-cost airline.
Koteshwar told BusinessLine here that the liquidity crisis “was beyond our control since the airline industry was bleeding ever since the Indian rupee depreciated in August-September 2013.”
A senior member of the erstwhile management team of SpiceJet said the former promoters — Kalanithi Maran and KAL Airways Ltd — had infused substantial funds on the eve of the transfer of their controlling interest of 58.6 per cent of equity capital of SpiceJet to the new promoter, and all dues were therefore settled.
Today SpiceJet clarified in a regulatory filing that it had paid the entire outstanding TDS amount pertaining to FY 2013-14 and FY 2014-15 in February 2015.
No defaultFurther, the company has been paying all its TDS dues and there has not been any default on its TDS obligations, it added. It further clarified that the company has not received any summons or notice as reported in certain sections of the media.
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