|
GURUGRAM July 26, 2024 : SpiceJet Ltd. welcomes the Supreme Court’s 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 May 17, 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’s dismissal of Maran's appeal vindicates SpiceJet's position in this protracted legal battle.
Following this success, SpiceJet will now pursue a refund of ₹450 crore, as outlined in our previous press release. In addition to significant steps being taken by SpiceJet to raise new funds, this refund will additionally strengthen the airline’s financial position and enable further expansion.
About SpiceJet:
SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy class seating in India.
|