Delhi HC dismisses appeals of former SpiceJet promoter

The Delhi high court on Friday dismissed separate appeals of SpiceJet former promoter Kalanithi Maran and Kal Airways challenging an order of a single judge upholding a 2018 arbitral award which directed the low budget airline SpiceJet to refund them ₹270 crore, observing that the same were filed after a "carefully" calculated delay.

- Shruti Kakkar

NEW DELHI:

Though the 2018 arbitral award was passed in Maran and Kal Airways' favour, they had challenged the same before the single judge on the ground that the arbitral tribunal rejected their substantial claims and at the same time allowed the entire counter claims of SpiceJet. They had sought to set aside the award to the extent it failed to award restitution of 58.46% shareholding to it and declined the claim for damages for non-issuance of warrants. Before the single judge, Kal Airways and Maran had also argued that it failed to provide interest on ₹270,86,99,209.