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Maran rejects settlement with SpiceJet, demands payment
Mint Mumbai
|July 11, 2023
Kalanithi Maran's Sun Group has ruled out the possibility of an amicable settlement with SpiceJet Ltd, insisting that the cash-strapped airline comply with the Supreme Court order to pay the ₹380 crore to it.
"There is no question of an amicable settlement with SpiceJet Ltd in view of the matter having reached finality by virtue of the order dated 7 July 2023 of the Honourable Supreme Court of India," a statement from former promoter Maran's KAL Airways Pvt. Ltd said on Monday.
The clarification from Sun Group came after reports of an amicable settlement between the Marans and SpiceJet surfaced following the Supreme Court order in which the top court directed SpiceJet to pay the entire outstanding arbitral amount of ₹380 crore to Maran in their legal dispute.
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