The Supreme Court on Friday directed budget carrier SpiceJet to pay the entire arbitral amount of Rs 380 crore to its former promoter Kalanithi Maran. The SC further observed that the business must be carried out with 'commercial morality'.
A bench of Chief Justice D Y Chandrachud and Justice P S Narasimha on Friday did not accept the vehement submissions of senior advocate Mukul Rohatgi, appearing for SpiceJet, and refused to the extend the time, saying the entire award has now become executable.
"The battery of lawyers is involved in all this and you know, the idea is just to delay complying with the orders of the court. I personally will not approve this... The writ of the court has to be complied with and now, they (the Delhi High Court) will execute the award," the CJI said.
The Delhi High Court in June asked SpiceJet to pay Rs 380 crore to Maran, in a seven-year-old share transfer dispute. The court also directed the airline to furnish details of its assets within four weeks.
On February 13, the SC directed SpiceJet to pay Rs 75 crore against Maran's claim of Rs 362.49 crore in interest dues within three months under the 2018 arbitration award.
07/07/2023 Economic Times
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