The Supreme Court on Tuesday ordered mediation in a dispute between Ajay Singh, chairman of SpiceJet, Kalanithi Maran, a former promoter of the airline, and Maran’s KAL Airways after the sides said they wanted an amicable settlement.
The court asked the Hyderabad Mediation Centre to look into the settlement talks. Senior advocate Mukul Rohatgi, who appeared for SpiceJet, told the court the parties need a detailed discussion for a settlement.
The disputes date back to 2015 when Maran sold his 58.46 per cent stake, or 50.4 million shares, in SpiceJet to Singh for Rs 2 after the airline suffered financial troubles.
