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Wednesday, June 19, 2024

SpiceJet to seek refund of Rs 450cr from Kalanithi Maran

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New Delhi: Low-cost carrier SpiceJet on Wednesday said it will seek refund of Rs 450 crore from Kalanithi Maran following a Delhi High Court order in favour of the Gurugram-based airline and its chairman Ajay Singh in long-standing share transfer case.

“SpiceJet will seek a refund of Rs 450 crores out of the Rs 730 crores it has previously paid to former promoter Kalanithi Maran and his firm, KAL Airways, following the Delhi High Court’s order on May 17,” the airline said in a statement.

The latest ruling by a Division Bench of the Delhi High Court has overturned a previous decision by a single-judge bench, positioning SpiceJet to claim a substantial refund based on legal advice, the airline further said.

As per SpiceJet, it has paid a total of Rs 730 crore, comprising Rs 580 crore in principal along with an additional Rs 150 crore towards interest to Maran and KAL Airways.

SpiceJet shares were trading 2.38 per cent higher at Rs 62.45 on the BSE at 11.40am on Wednesday.

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