Kalanithi Maran vs Ajay Singh: Blow to SpiceJet as SC dismisses petition

Plea challenged HC order telling SpiceJet to deposit Rs 579 cr over dispute with former management

In a blow to the Ajay Singh-led low-cost carrier (LCC) SpiceJet, the Supreme Court on Friday dismissed its appeal challenging the Delhi High Court order that directed it to deposit Rs 579 crore in relation to a share-transfer dispute with media baron Kalanithi Maran.

The Bench headed by Justice Rohinton Nariman heard the counsel to Singh, who now controls SpiceJet, as well as Abhishek Singhvi, who was appearing for Maran, before rejecting the appeal. SpiceJet is now obliged to deposit Rs 250 crore in cash and Rs 329 crore in bank guarantees. 

The payment schedule was to start in August.