SC asks Maran, KAL Airways to consider settlement with SpiceJet
The Supreme Court on Thursday sought a response from Kalanithi Maran-led KAL Airways on an offer from SpiceJet Ltd to consider ending a share transfer dispute with the airline on receiving ₹600-odd crore towards full and final payment.
A bench, led by chief justice of India NV Ramana, gave Maran and Kal Airways time till February 14 to respond to the settlement offer, which entailed encashment of bank guarantee of ₹270 crore, with a top-up amount of ₹30crore.
“Of the principal amount of ₹578 crore awarded in arbitration, SpiceJet has already paid ₹308 crore in cash to them,” senior advocate Mukul Rohatgi, representing SpiceJet, informed the bench, which also included justices AS Bopanna and Hima Kohli.
