SC rejects Maran, KAL plea against SpiceJet

New Delhi

The Supreme Court on Wednesday dismissed a plea filed by KAL Airways and media baron Kalanithi Maran, who sought over ₹1,300 crore in damages from SpiceJet in a long-running share transfer dispute. A bench of Justices P S Narasimha and A S Chandurkar upheld a Delhi High Court order from May 23, rejecting the plea due to delays in appeal filings.

Maran and KAL Airways, former SpiceJet promoters, had claimed damages during arbitration. The High Court had earlier criticized the delay, calling it a calculated gamble. In May 2023, a division bench of the Delhi High Court had overturned a single judge’s ruling that directed SpiceJet and its current promoter Ajay Singh to refund ₹579 crore with interest to Maran.

The dispute dates back to 2015, when Singh repurchased the struggling airline. Maran claimed to have paid ₹679 crore for share allocations, which he alleged were never issued or refunded, prompting him to move court in 2017.