SpiceJet to seek Rs 450 cr refund from Maran

A division bench of the court, on May 17, set aside a single judge bench order that had upheld an arbitral award asking SpiceJet and its promoter Ajay Singh to refund Rs 579 crore plus interest to Maran.
SpiceJet
SpiceJetFile Photo

NEW DELHI: SpiceJet on Wednesday said it will seek a refund of Rs 450 crore out of the total Rs 730 crore paid to the airline’s former promoter Kalanithi Maran and his firm KAL Airways following a Delhi High Court ruling.

A division bench of the court, on May 17, set aside a single judge bench order that had upheld an arbitral award asking SpiceJet and its promoter Ajay Singh to refund Rs 579 crore plus interest to Maran.

The bench allowed appeals filed by Singh and SpiceJet challenging the single judge’s order, passed on July 31, 2023, and remanded the matter back to the court concerned to consider the pleas challenging the arbitral award afresh. The airline in a regulatory filing on Wednesday said it will seek a refund of Rs 450 crore out of the Rs 730 crore it had paid to Maran and KAL Airways.

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