Delhi HC orders 144.5cr deposit, SpiceJet heads to Supreme Court
Business
SpiceJet is heading to the Supreme Court after being told by the Delhi High Court to deposit ₹144.5 crore in an ongoing legal fight with former owner Kalanithi Maran and KAL Airways.
The airline tried to review the order but got dismissed and ordered to pay ₹50,000 in costs for asking too many times.
Transfer to Ajay Singh sparked dispute
This clash started back in 2015 when Maran and KAL Airways transferred their 58.46% stake in SpiceJet to Ajay Singh but claims the airline didn't deliver on promises like issuing shares and warrants.
SpiceJet says it's struggling financially due to tough economic times, but the court insists they pay up now, calling their repeated requests "a complete abuse of the process of law."