The Delhi High Court on Monday ordered domestic budget carrier SpiceJet to pay Sun Group founder and the airline’s former promoter Kalanithi Maran Rs 380 Crore in outstanding dues. It also asked SpiceJet to submit an affidavit of assets within four weeks.
The order stated that SpiceJet is yet to pay Rs 75 crore to Maran, according to the directions of the Supreme Court dated February 13, 2023. The apex court had ordered the airline to make the payment within three months, but it failed to comply with the same. The Supreme Court had also said: "If SpiceJet defaults, the award shall become executable in its entirety."
The High Court ruling dated 29 May 2023 originated from a long-running feud between the Maran family and current promoter, Ajay Singh, and SpiceJet, over contractual obligations.
In 2017, Maran filed a lawsuit against SpiceJet for allegedly causing losses by failing to issue preference shares and convertible warrants to him and KAL Airways.
KAL Airways is controlled by Kalanithi Maran.
SpiceJet paid Maran a principal amount of Rs 579.08 Crore after a prolonged court battle, but the interest portion was pending. The interest stood at Rs 242 Crore in October 2020, rose to Rs 362 Crore by February 2023 and finally accumulated to Rs 380 Crore.
A SpiceJet spokesperson said the company is in discussions with MARAN and KAL Airways for a comprehensive settlement.
"SpiceJet is already in discussions with Kalanithi Maran and his firm for a comprehensive settlement. Confident of resolving the same mutually as we have already paid the entire principal amount of Rs 578 crore earlier awarded by the Arbitral Tribunal," said the spokesperson.