New Delhi: SpiceJet on Thursday said the Supreme Court has dismissed the appeal filed by KAL Airways and its former promoter Kalanithi Maran, who were seeking damages of over Rs 1,300 crore and other related claims against the airline.
In a regulatory filing, SpiceJet stated that the top court’s order marks the final dismissal of these appeals. “The remaining issues before the Court pertain to SpiceJet’s challenge of the interest levied—which has already been substantially deposited—and the premature refund of the CRPS (Cumulative Redeemable Preference Shares) amount by the Arbitral Tribunal,” the airline noted.
The legal dispute began in 2015, when Ajay Singh, who had earlier owned SpiceJet, reacquired the airline from Maran and KAL Airways after it was grounded due
to financial distress.
Under the agreement, Maran and KAL claimed to have paid Rs 679 crore to SpiceJet for convertible warrants and preference shares, which they alleged were neither issued nor refunded—leading to a court case in 2017.
However, the Arbitral Tribunal, the Delhi High Court, and its Division Bench had previously rejected Maran’s claims.
The Supreme Court’s latest decision effectively ends the damages dispute, leaving only procedural matters to be resolved. Agencies