Maran, KAL Airways reject SpiceJet's Rs 600-cr offer to end share dispute

The senior counsel of KAL Airways said that Spicejet will have to pay them Rs 920 crore

In a fresh twist to the long-drawn share dispute between SpiceJet's Ajay Singh and the airline's former promoter Kalanithi Maran, Maran and his KAL Airways rejected a new settlement offer by SpiceJet in Supreme Court on Monday.

Maninder Singh, a senior advocate from Karanjawala & Co, who appeared on behalf of KAL Airways said that as per the arbitral award, Spicejet will have to pay them Rs 920 crore and the settlement offer proposed by the airline is not acceptable for his client. The court, after hearing the submissions, listed the matter for arguments on March 2. Last week, the