SpiceJet's Legal Turbulence: High Court Dismisses Review Plea
The Delhi High Court dismissed SpiceJet and Ajay Singh's pleas to review an order demanding a Rs 144 crore deposit in a legal dispute with Kalanithi Maran. The court imposed costs on SpiceJet, and despite financial distress claims, rejected the review. The dispute involves ownership transfer and non-issuance of warrants.
- Country:
- India
The Delhi High Court rejected pleas from SpiceJet and its promoter, Ajay Singh, to review an earlier demand to deposit Rs 144 crore amid a legal dispute with Kalanithi Maran and Kal Airways. The court also imposed a Rs 50,000 cost on SpiceJet and Singh.
On January 19, SpiceJet and Singh were ordered to deposit Rs 144 crore, addressing a Rs 194 crore admitted liability. The court initially extended the deadline, but upon reassessment, denied review petitions citing pending financial distress.
The contention follows a 2015 ownership transfer of SpiceJet wherein Singh reclaimed control during the airline's financial hardship. The ongoing dispute concerns the non-issuance of warrants post-transfer, with the court previously ordering reimbursement to Maran.
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