Relief to SpiceJet, SC sends back its dispute with Kalanithi Maran to HC

Quick Summary:

In February 2015, Maran and Kal Airways transferred their 58.46 per cent stake in SpiceJet to Singh.

Following this success, SpiceJet will now pursue a refund of Rs 450 crore, as outlined in our previous press release.

However, Maran claimed that these warrants and preference shares were not allotted, leading him to initiate arbitration proceedings against SpiceJet and Singh.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Spicejet Maran Supreme Court High court SpiceJet

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 19:53:11 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 581 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21785035

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