The Supreme Court on Wednesday rejected the appeal by Airways and Media Baron Kalanithi Maran, challenging the order of the Delhi High Court, demanding Rs 1,323 crore from SpiceJet and its head Ajay Singh.
A bench of Justices PS Narasimha and Chandrakar dismissed the appeals challenging the High Court order on 23 May, which dismissed their arguments on the basis of delay.
The dispute between the parties arose after Singh, who was the owner of SpiceJet, first bought it back from Maran after the ground for months due to a resource crunch. Later, with Maran and his firm accusing SpiceJet and Singh, differences arose and they were violated to the agreement for the issue of share warrant and preference shares.
The matter went into mediation, which dismissed Kaal Airways claim for Rs 1,323 crore, but ordered a return of Rs 579.08 crore with interest.
Both sides challenged this before the High Court, where on July 31, 2023, a single judge directed SpiceJet and Singh to return more than Rs 270 crore for Airways and Maran yesterday.
On the appeal, the Division Bench separated the order and sent it back to a single judge to reconsider the petition under Section 34 of the Medication and Reconciliation Act, 1996.
Although Kaal Airways and Maran transferred the Supreme Court against it, the apex court rejected it on 26 July 2024.
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He once again challenged the single judge order before a division bench, which was rejected on delayed basis on 23 May, 2025, on the basis of delay. This led to the current appeal before the Supreme Court, which was rejected on Wednesday.
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