SC hearing: KAL Airways, Maran reject SpiceJet’s settlement offer

Kalanithi Maran and his company KAL Airways on Monday turned down the one-time settlement offer of Rs 600 crore made by low-cost carrier SpiceJet as part of ending all its pending disputes, including the share transfer issue, between the two parties.

Senior counsel Maninder Singh, appearing for Maran, told a bench led by Chief Justice NV Ramana that Maran and KAL Airways have refused SpiceJet’s offer, which proposed that it would pay Rs 300 crore towards a full and final settlement of the dispute or secondly, out of the bank guarantee of Rs 270 crore deposited with the Delhi High Court, will give Rs 100 crore for now to fast track the litigation.