 "SpiceJet")
The Delhi High Court on Monday dismissed budget carrier SpiceJet and its co-founder Ajay Singh’s appeals against an earlier single-judge order asking them to pay Rs 579 crore to Sun Group chief Kalanithi Maran and his KAL Airways as interim relief in a share transfer dispute. The court also directed the two sides to initiate arbitration.
The two-judge bench, however, modified the single-judge order of July 29, 2016, and directed SpiceJet to deposit Rs 250 crore in cash and Rs 329 crore as bank guarantee by August 31 and July 31, respectively. The court concluded that the modification of the
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