Court directs SpiceJet to pay Rs 380 crore to former promoter Kalanithi Maran

Delhi High Court has ordered SpiceJet to pay INR380 crore to its former promoter, Kalanithi Maran in a seven-year-old share transfer dispute with interest liabilities having risen from INR362 crore. Further, the judgment requires SpiceJet to provide details of its assets within four weeks. SpiceJet has stated it is already in discussions with Maran and his firm for a comprehensive settlement and has already paid the entire principal amount of INR578 crore earlier awarded by the arbitral tribunal.

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