SpiceJet has suffered a legal setback after the Delhi High Court dismissed its review petition in the Rs 144.5 crore dispute with Kalanithi Maran and KAL Airways. The order adds to the ongoing legal and financial pressure on the airline.
The court refused to modify its earlier direction requiring SpiceJet Limited to deposit Rs 144.5 crore in the long-running arbitration matter. Justice Subramonium Prasad also imposed a cost of Rs 50,000 on the airline while dismissing the petition.
The airline had argued that instead of depositing cash, the court could consider the attachment of promoter Ajay Singh’s personal property. The court, however, rejected the proposal and upheld its earlier order.
The dispute relates to a 2015 share transfer agreement, when Kalanithi Maran and KAL Airways transferred their entire stake in SpiceJet to Ajay Singh during a period of financial stress at the airline. The transaction later led to a long legal battle over payments and liabilities.
In 2018, an arbitral tribunal had ordered SpiceJet and Ajay Singh to pay Rs 308.21 crore plus interest to Maran and KAL Airways. The matter has since been under continuous litigation across various courts.
Earlier in February 2026, the Supreme Court of India had also dismissed SpiceJet’s challenge to the Rs 144.5 crore deposit order. This strengthened the requirement for the airline to deposit the amount.
04/05/2026 Anubhav Maurya/ZBusiness
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