SpiceJet Legal Tussle Intensifies: High Court Reserves Order

SpiceJet and promoter Ajay Singh petitioned for a review of a court order demanding a Rs 144 crore deposit amid a legal dispute with Kalanithi Maran and Kal Airways. Arguing financial distress, they offered a Gurugram property as security. The Delhi High Court reserved its decision.

The Delhi High Court has reserved its decision regarding petitions from SpiceJet and its promoter, Ajay Singh, challenging an order to deposit Rs 144 crore in a legal dispute with media mogul Kalanithi Maran and Kal Airways.

Justice Subramonium Prasad made this move after hearing arguments that urged reconsideration of the deposit, citing financial strains due to geopolitical tensions. SpiceJet proposed a commercial property in Gurugram as an alternative security.

Senior advocate Mukul Rohatgi, representing Singh and SpiceJet, highlighted potential public disinterest in the airline's shutdown. Nonetheless, counsel for Maran maintained that the Supreme Court had previously considered the reasons SpiceJet gave for financial duress.

(With inputs from agencies.)