NEW DELHI: In a fresh blow to struggling-to-survive SpiceJet, the Delhi HC on Monday asked the airline to deposit an additional Rs 243 crore, in connection with a share-transfer dispute with former promoter Kalanithi Maran, in six weeks.
Sun Group chief Maran can seek status quo on the carrier’s shareholding pattern if it is unable to deposit the amount in the time given to it. Maran had sold his entire 58.5% stake in SpiceJet to Ajay Singh for a mere Rs 2 in 2015 with the latter taking over the debt and liabilities of the airline.
The amount demanded is the interest payable on nonconvertible redeemable cumulative preference shares that were agreed on but not issued to Maran’s KAL Airways.
