Shares of Spicejet Ltd have taken a tumble amid reports that a Public Interest Litigation (PIL) has been filed against Union Textiles Minister Dayanidhi Maran for his alleged role in awarding of licences to telecom operator Aircel. He is also alleged to have been a beneficiary of the Aircel stake sale to Maxis Communications.
Spicejet Ltd. is owned and run by Kalanithi Maran, who is a brother of Dayanidhi Maran. The Maran brothers also own and operate media conglomerate Sun TV Network Ltd., whose stock is also down sharply today.
02/06/11 India Infoline
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