SpiceJet says it has started paying back to it creditors

NEW DELHI: Budget carrier SpiceJetBSE 3.73 % has started paying back to its creditors with the airline clearing all its dues related to TDS payments following its ownership going back in the hands of the original promoter Ajay Singh. 

SpiceJet has cleared its major outstanding dues related to Income Tax (TDS) payments, the airline said in a release today. 

"This is the first major step in settling our payables to various creditors, which we will do as per mutual discussions and payment plans that are being put together," SpiceJet Acting Chief Financial Officer Kiran Koteshwar said. 

Koteshwar said that the airline has already cleared salary dues as well as service tax dues earlier this month, adding, "We have started making meaningful payments to our other business partners as well." 
Source:  http://goo.gl/CINHL1