SpiceJet vindicated with Supreme Court?fs dismissal of Maranʹs appeal

SpiceJet welcomes the Supreme Court?fs decision to dismiss an appeal filed by Kalanithi Maran and Kal Airways challenging a Delhi High Court division bench ruling in favour of the airline.

The Division Bench of the Delhi High Court, on 17 May 2024, ruled in favour of SpiceJet and its Chairman and Managing Director, Ajay Singh, overturning a previous single?]bench order that directed SpiceJet to pay interest of up to Rs. 300 crore to Maran in a dispute over an arbitral award.

The Supreme Court?fs dismissal of Maranʹs appeal vindicates SpiceJetʹs position in this protracted legal battle.

Following this success, SpiceJet will now pursue a refund of Rs 450 crore. In addition to significant steps being taken by SpiceJet to raise new funds, this refund will additionally strengthen the airline?fs financial position and enable further expansion.

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