The Delhi High Court on Monday dismissed review petitions filed by SpiceJet and its promoter Ajay Singh against an earlier direction to deposit Rs 144 crore in their ongoing dispute with media baron Kalanithi Maran and Kal Airways, according to a PTI news agency report.
Court Ruling and Costs
Justice Subramonium Prasad rejected the petitions and imposed a cost of Rs 50,000 on the airline and Ajay Singh. "Dismissed with cost of Rs 50,000," the court said while pronouncing the verdict.
Background of the Dispute
The dispute relates to an admitted liability of Rs 194 crore. On January 19, the court had directed SpiceJet and Singh to deposit Rs 144 crore with the court registry within six weeks. The deadline was extended by four weeks on March 18.
In their review pleas, SpiceJet and Singh cited financial distress, including the impact of the ongoing conflict in West Asia, and sought reconsideration of the deposit order. They further proposed offering a commercial property in Gurugram as a security and told the court that the central government was willing to extend assistance.
However, Maran and Kal Airways opposed the pleas, arguing that the Supreme Court has examined and rejected the plea on the same grounds.
Details of the Case
The case stems from a long-running dispute over the non-issuance of warrants to Maran following the transfer of control of SpiceJet back to Singh in February 2015. At the time, Maran and Kal Airways had transferred their entire 58.46 per cent stake in the airline for Rs 2 amid its financial crisis.
In May 2024, a division bench of the high court had set aside an earlier order upholding an arbitral award directing SpiceJet and Singh to refund Rs 579 crore plus interest, and remanded the matter for fresh consideration.
