SpiceJet has issued a statement following the Supreme Court of India’s decision declining to interfere with the earlier directive requiring the airline to deposit INR 144 crore in connection with its ongoing dispute with KAL Airways and Kalanithi Maran.
The airline said it is reviewing the order and will comply with all directions issued by the court. SpiceJet further clarified that the matter has no operational impact and that its flight services and business functions continue as normal.
In a statement, the airline noted, “SpiceJet has taken note of the order passed by the Supreme Court of India, which declined to interfere with the earlier direction to deposit INR 144 crore. The company is examining the order and will comply with all court directions. SpiceJet would like to assure all stakeholders that this development has no impact on its day-to-day operations.”
The case stems from a share transfer agreement between SpiceJet, its promoter Ajay Singh, and KAL Airways and Kalanithi Maran. According to the airline, it has already paid INR 730 crore to the counterparties — comprising the entire principal amount of INR 580 crore and INR 150 crore towards interest. The remaining amount, as directed by the court, will be deposited in accordance with the arbitration process.
SpiceJet highlighted that claims exceeding INR 1,300 crore in damages made by KAL Airways and Kalanithi Maran have been rejected, and those orders have attained finality. The airline also stated that all challenges to the arbitral award by the claimants have been dismissed.
Further, SpiceJet’s own claims seeking a refund from KAL Airways and Kalanithi Maran are currently under consideration before the Delhi High Court, where the court has made a prima facie finding in favour of the airline.
SpiceJet said it remains confident of securing a potential refund of INR 449 crore once the legal process concludes.
