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Delhi High Court Rejects KAL Airways' ₹1,300 Crore Appeal Against SpiceJet

The court's decision marks the latest setback for Kalanithi Maran and KAL Airways in their long-running legal battle over financial claims tied to SpiceJet's ownership transfer.

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SpiceJet shares climb as Delhi HC rejects plea filed by KAL Airways, Kalanithi Maran
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Overview

  • The Delhi High Court dismissed KAL Airways and Kalanithi Maran’s appeal seeking ₹1,300 crore in damages from SpiceJet on May 23, 2025.
  • The claims were previously rejected by an Arbitral Tribunal and a Single-Judge Bench of the Delhi High Court before the recent dismissal.
  • The dispute stems from the 2015 ownership transfer of SpiceJet from Kalanithi Maran to Ajay Singh, which included unresolved financial agreements over warrants and preference shares.
  • SpiceJet shares rose 4.45% following the court's decision, reflecting investor optimism about the airline's legal victory.
  • The Arbitral Tribunal had earlier ruled that Maran owed ₹29 crore in penal interest to Singh and SpiceJet, while Singh was required to reimburse ₹579 crore with interest to Maran.