The legal battle between media tycoon Kalanithi Maran and low-cost carrier SpiceJet encountered another postponement as the Delhi High Court rescheduled the hearing for early February. The delay ensued following a request from SpiceJet, citing the indisposition of their lawyer, Amit Sibal. Despite this plea, the court declined relief and urged SpiceJet’s Chairman and Managing Director, Ajay Singh, to be present at the forthcoming hearing.
The court’s decision comes after Maran’s assertion that SpiceJet owed him a staggering Rs 440 crore in interest, stemming from outstanding dues related to an arbitral award. Highlighting the sequence of events, Maran revealed that SpiceJet had ceased payments after remitting Rs 100 crore in September 2023.
In a prior directive in September, SpiceJet and Singh had complied with the court’s order to disburse Rs 100 crore to Maran, who is the chairperson of the Sun Group. The court had explicitly cautioned that the failure to fulfill payment obligations could lead to the attachment of SpiceJet’s profits for the preceding quarter.
Singh’s in-person appearance was mandated after Maran filed an application, alleging SpiceJet’s non-compliance with a court request dating back to 2020 for an affidavit detailing the company’s assets and liabilities.
The validity of the contested arbitral award received validation from a single judge of the high court on July 31. Subsequently, SpiceJet and Singh contested this order before a division bench of the court.
The Supreme Court’s ruling on July 7 affirmed the award as enforceable, underscoring SpiceJet’s failure to adhere to payment timelines. As part of concluding the case, the top court directed the encashment of SpiceJet’s Rs 270-crore bank guarantee and mandated the airline to pay an additional Rs 75 crore in interest within a three-month timeframe.
The ongoing legal tussle between Maran and SpiceJet continues to unfold in Delhi’s legal corridors, shaping the contours of this high-profile dispute over dues and arbitral awards.
Stay tuned for the subsequent developments as the hearing resumes in early February, with attention on SpiceJet’s pivotal presence in the courtroom.
