SpiceJet Appeals Supreme Court Ruling on Share Transfer Dispute with Kalanithi Maran
SpiceJet moves Supreme Court against Delhi HC order in Maran dispute
Business Standard
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SpiceJet has appealed to the Supreme Court against a Delhi High Court order requiring it to deposit ₹144.5 crore in a share transfer dispute with former promoter Kalanithi Maran and KAL Airways. The airline argues the deposit is part of an admitted liability in a long-standing arbitration case, with the Supreme Court set to hear the appeal on May 18.
- 01SpiceJet is appealing a Delhi High Court order to deposit ₹144.5 crore.
- 02The dispute involves former promoter Kalanithi Maran and KAL Airways.
- 03The Supreme Court is scheduled to hear the appeal on May 18.
- 04The case stems from Maran's exit from SpiceJet's ownership in 2015.
- 05SpiceJet has cited financial distress in its request for reconsideration.
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SpiceJet, a low-cost airline based in India, has filed an appeal in the Supreme Court against a directive from the Delhi High Court requiring it to deposit ₹144.5 crore (approximately $17.4 million USD) related to a share transfer dispute with former promoter Kalanithi Maran and KAL Airways. This dispute traces back to Maran's exit from the airline's ownership in 2015. The Delhi High Court had dismissed SpiceJet's review petition on May 4, 2026, confirming the deposit as an admitted liability. The airline's managing director, Ajay Singh, has argued that the financial distress caused by ongoing conflicts in West Asia has impacted their ability to comply with the order. SpiceJet had previously sought a reconsideration of the deposit timeline, which was extended by four weeks on March 18. The Supreme Court is expected to hear the appeal on May 18.
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The outcome of this case may affect SpiceJet's financial stability and operational capabilities, potentially impacting its employees and stakeholders.
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