Low-cost carrier SpiceJet has approached the Supreme Court challenging a Delhi High Court direction requiring it to deposit Rs 144.5 crore in connection with its long-running share transfer dispute with former promoter Kalanithi Maran and KAL Airways.
The airline has contested the High Court’s recent order mandating the deposit as part of proceedings arising from an arbitral award linked to the transfer of shares and warrants between the parties.
According to the Supreme Court website, the appeal was filed on May 7 and is tentatively listed for hearing on May 18.
On May 4, 2026, the Delhi High Court dismissed a review petition filed by SpiceJet and its managing director (MD) Ajay Singh, upholding a directive to deposit Rs 144.5 crore in a long-standing arbitration dispute with Kalanithi Maran and KAL Airways.
Justice Subramonium Prasad dismissed the plea, terming it an admitted liability, and imposed costs of Rs 50,000 on the airline.
The dispute dates back to Maran’s exit from the airline’s ownership in 2015 and has since seen multiple rounds of litigation before arbitral tribunals and courts.
13/05/2026 Bhavani Mishra/Business Standard
To Read the News in full at Source, Click the Headline
0 Post a Comment:
Post a Comment