 "SC stays order asking SpiceJet to deposit Rs 243 cr in Kalanithi Maran case")
According to media reports, the Supreme Court (SC) has stayed an order by the Delhi High Court (HC), which directed SpiceJet to deposit Rs 243 crore with the Registry in its ongoing arbitration case with Kalanithi Maran and KAL Airlines.
The HC had directed SpiceJet to deposit the sum by six weeks, or 14 October. However, the deadline expired and no payment was received. KAL then approached the Delhi High Court, pleading attachment of Ajay Singh’s shareholding in SpiceJet.
They sought appointment of a director to take over the management of SpiceJet. SpiceJet then moved the SC for relief, pleading against the HC order. The SC has now ordered interim stay.
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