New Delhi: SpiceJet on Monday urged the Delhi High Court to grant urgent relief from a direction requiring it to deposit Rs 144.5 crore in connection with its long-running dispute with former promoter Kalanithi Maran and KAL Airways, cautioning that enforcement of the order could push the airline into financial distress.
Appearing for the low-cost carrier, Senior Advocate Mukul Rohatgi submitted that the airline’s current financial position makes it impossible to comply with the deposit requirement within the stipulated timeline. It was argued that insisting on the payment at this stage could severely disrupt operations, with the potential to ground flights and trigger a broader collapse.
Rohatgi said that the entire business is held up and that their airline is the smallest of the big three airlines. “If my accounts are attached for non-deposit, the entire system will collapse or at least I will collapse,” he told the court and asked for more time to arrange the money.
The dispute stems from a share transfer agreement dating back to 2015, when SpiceJet was taken over by its present promoter Ajay Singh from the Maran family.
Subsequent disagreements over warrants and financial obligations led to arbitration proceedings, which resulted in an award in favour of the Marans.
While portions of the arbitral award have been contested and partially set aside over the years, the matter has continued to generate litigation, including enforcement proceedings. The present direction to deposit Rs 144.5 crore arises from these ongoing efforts to secure the awarded sums.
13/04/2026 Bhavini Mishra/Business Standard
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