The Supreme Court of India on Friday dismissed a petition filed by SpiceJet and its Chairman Ajay Singh, challenging a Delhi High Court order directing the airline to deposit ₹144.5 crore.
The case is linked to an arbitration dispute involving Kalanithi Maran and KAL Airways Private Limited. A bench comprising Justice P.S. Narasimha and Justice Alok Aradhe upheld the Delhi High Court’s January 19 order.
The apex court also imposed a fine of ₹1 lakh on Ajay Singh for “unnecessarily prolonging litigation.”
Background of the Dispute
In January, the Delhi High Court observed that the Supreme Court’s 2023 directions regarding payment and compliance had not been fully adhered to. SpiceJet had acknowledged total dues of ₹194.51 crore, of which ₹50 crore has already been deposited. The remaining ₹144.51 crore is yet to be paid.
The dispute stems from a 2015 share transfer agreement, under which Kalanithi Maran and KAL Airways sold their 58.46% stake in SpiceJet to Ajay Singh.
In its response to the Supreme Court’s ruling, SpiceJet stated that it has taken note of the order and will comply with all court directions. The airline further clarified that the development will have no impact on its day-to-day operations.
SpiceJet also claimed that it has already paid ₹730 crore to Maran and KAL Airways, including ₹580 crore in principal and ₹150 crore in interest. The remaining amount, the airline said, will be deposited as per the court’s directive.
The ruling marks another significant development in the long-running legal battle between the airline and its former promoters.
