The Delhi High Court has issued a ruling against low-fare airline SpiceJet, instructing it to pay Rs 32.5 crores to its former promoter, Kalanithi Maran of the Sun Group by end of the day or tommorow depending on the bank hours.
Maran's lawyer contended that Singh had a period from August 24 to September 10, but they delayed paying it till now.
Conversely, Ajay Singh's lawyer informed the Court that they possessed a Rs 37.5 crore check payable to Maran, and they had already paid Rs 62.5 crore.
The next hearing on the case is scheduled for hearing on October 3.
Background of the Legal Battle
The recent High Court ruling is a result of a longstanding legal dispute between the Maran family and SpiceJet's current promoter, Ajay Singh. The disagreement stems from alleged contractual obligations between Maran and SpiceJet.
In 2017, Maran filed a lawsuit against the airline, claiming that SpiceJet had caused financial losses by failing to issue convertible warrants and preference shares to him and his company, KAL Airways.