The Delhi High Court on Monday directed SpiceJet to deposit around Rs 243 crore within six weeks towards interest in connection with a share-transfer dispute with its former promoter Kalanithi Maran. This is the interest amount payable on Rs 579 crore, which the HC had in 2017 asked the low-cost airline to deposit in the share transfer dispute with Maran.
Accepting the claim of Maran and his firm KAL Airways for grant of, up to date, post-award interest of Rs 243 crore within six weeks, Justice Rekha Palli said, “in the event the amount is not deposited by judgment debtor (SpiceJet and promoter Ajay Singh) within the time granted, the decree holder (Kalanithi Maran and his firm KAL Airways) shall be at liberty to revive their prayer seeking directions to the JDs to maintain status quo with respect to their shareholding,” of SpiceJet and Singh.
