SpiceJet gets payment reprieve from India’s Supreme Court
India’s Supreme Court stayed an order directing SpiceJet to deposit 2.4b rupees ($32.5m) with a lower court, a relief for the cash-strapped low-cost carrier. A three-judge bench headed by Chief Justice Sharad A. Bobde agreed to SpiceJet’s request to put on hold a Delhi High Court order to deposit the money, saying there was no precedent for such a directive to be given. The bench will hear the case again after another four weeks. SpiceJet and its chairman Ajay Singh are in a legal dispute with the carrier’s former owner, billionaire Kalanithi Maran, who claimed damages over a share transfer in 2014. The company was ordered to pay Maran the 2.4 billion rupees as part of a ruling in July 2018. SpiceJet disputes that figure, which is based on interest Maran claimed he was owed.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-11-09/unaligned/spicejet-gets-payment-reprieve-from-india2019s-supreme-court
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SpiceJet gets payment reprieve from India’s Supreme Court
India’s Supreme Court stayed an order directing SpiceJet to deposit 2.4b rupees ($32.5m) with a lower court, a relief for the cash-strapped low-cost carrier. A three-judge bench headed by Chief Justice Sharad A. Bobde agreed to SpiceJet’s request to put on hold a Delhi High Court order to deposit the money, saying there was no precedent for such a directive to be given. The bench will hear the case again after another four weeks. SpiceJet and its chairman Ajay Singh are in a legal dispute with the carrier’s former owner, billionaire Kalanithi Maran, who claimed damages over a share transfer in 2014. The company was ordered to pay Maran the 2.4 billion rupees as part of a ruling in July 2018. SpiceJet disputes that figure, which is based on interest Maran claimed he was owed.<br/>
