Supreme Court to address SpiceJet's appeal regarding ₹144.51 Crore Maran dispute deposit

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Supreme Court to Hear SpiceJet's Plea Against ₹144.51 Crore Deposit in Maran Dispute

SpiceJet has told courts that it is navigating severe financial stress, citing high fuel costs, currency volatility and the lingering impact of the pandemic.

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Storyboard•27-02-2026, 13:35

Supreme Court to Hear SpiceJet's Plea Against ₹144.51 Crore Deposit in Maran Dispute

•Supreme Court to hear SpiceJet's challenge against Delhi High Court order to deposit ₹144.51 crore.
•The dispute stems from a 2018 arbitral award related to SpiceJet's 2015 ownership transfer to Ajay Singh from Kalanithi Maran and KAL Airways.
•Maran alleged non-issuance of financial instruments (convertible warrants and preference shares) worth ₹679 crore infused before his exit.
•The 2018 arbitral tribunal ordered SpiceJet to refund ₹579 crore plus interest, rejecting Maran's ₹1,323 crore damages claim.
•The Delhi High Court ordered the ₹144.51 crore deposit, citing SpiceJet's acknowledgment of ₹194.51 crore due after a ₹50 crore deposit.

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