The Delhi High Court dismissed an appeal filed by KAL Airways and businessman Kalanithi Maran against SpiceJet, seeking over ₹1,300 crore in damages. The decision, dated May 23, 2025, was announced by the budget airline in a regulatory filing on Monday.
Key Highlights
- Delhi High Court dismisses KAL Airways and Maran's ₹1,300 crore damages claim against SpiceJet.
- SpiceJet shares rise over 4% following court's rejection of Maran's compensation appeal.
The appeal, which had previously been rejected by an Arbitral Tribunal and then by a Single-Judge Bench of the High Court, was Maran and KAL Airways' latest attempt to seek compensation from the low-cost carrier. The arbitration proceedings, presided over by a panel of three retired Supreme Court judges, thoroughly investigated and rejected the damages claim.
"A panel of three retired Supreme Court judges thoroughly examined these claims and ultimately rejected them. Following this, KAL Airways and Kalanithi Maran filed an appeal with the Delhi High Court's Single-Judge Bench, seeking the same amount in damages, which was also rejected by the court," the airline stated.
Kal Airways, Kalanithi Maran versus SpiceJet
SpiceJet and Maran have been at odds for over ten years. In 2010, KAL Airways and Kalanithi Maran acquired a majority share in SpiceJet, raising their ownership from 37.7 percent to 58.46 percent. However, as part of a revival agreement, they gave back all of their shares to Ajay Singh, the original founder of SpiceJet, in February 2015. After asserting that they had paid ₹679 crore for preference shares and unissued warrants, Maran and KAL Airways filed a lawsuit.
At first, an arbitral tribunal decided in their favor and mandated that SpiceJet return ₹579 crore plus interest. But in 2024, the Supreme Court and the Delhi High Court reversed the decision and sent the case back for review. While SpiceJet dismisses the claims as unfounded and discredited, Maran and KAL Airways are requesting ₹1,323 crore in damages.
SpiceJet shares increased by 2.62 percent to ₹44.98 per share on BSE at 11.05 am, following the latest dismissal.
