Kal Airways says no to 2 proposals for settlement offered by SpiceJet in SC

Maran family-controlled Kal on Monday told the Supreme Court that they were not agreeable to two proposals to settle their dispute with SpiceJet on payment of interest in connection with a share transfer issue as the low-cost airline owed them around Rs 920 crore in pursuance of an arbitral award.

A bench comprising Chief Justice NV Ramana and Justices AS Bopanna and Hima Kohli, at the outset, inquired about the view of Kal Airways Pvt Ltd and media baron Kalanithi Maran whether they were agreeable to the two proposals of SpiceJet to settle the dispute.

Ajay Singh headed Spice Jet is already facing insolvency case and recently the apex court has told the company to come with concrete plans.