KAL Airways is seeking compensation from SpiceJet

28 May 2024 CW Team

In the ongoing dispute between the two parties, KAL Airways and Kalanithi Maran announced that they will challenge the recent Delhi High Court ruling and demand more than Rs 13.23 billion in damages from SpiceJet and its CEO, Ajay Singh. On May 17, a division bench of the court overturned a single judge bench ruling that had maintained an arbitral award demanding that Maran receive a repayment of Rs 5.79 billion plus interest from SpiceJet and its promoter, Ajay Singh.

The panel granted Singh and SpiceJet's appeals against the July 31, 2023, judgement of the single judge and returned the case to that court so that the petitions contesting the arbitral award may be considered again.

In the ongoing legal battle between the two sides, KAL Airways and Kalanithi Maran said that they will appeal the latest Delhi High Court decision and seek damages from SpiceJet and its CEO, Ajay Singh, totaling more than Rs 13.23 billion. A division bench of the court rejected a single judge bench order on May 17, overturning the arbitral verdict that demanded that SpiceJet and its entrepreneur, Ajay Singh, refund Maran Rs 5.79 billion plus interest. The panel upheld Singh and SpiceJet's appeals against the single judge's July 31, 2023, ruling and remanded the matter to that court for further consideration of the petitions challenging the arbitral award. The decree holders want to obtain a fair and just settlement to the acrimonious issue by pursuing both the appeal of the Delhi High Court ruling and the damages claim, according to the statement. SpiceJet's betrayal of trust gave rise to the dispute, which has caused "enormous hardship to both KAL Airways and Kalanithi Maran for more than a decade," according to the statement. The statement claims that they would seek the implementation of the arbitral award and a reimbursement of the outstanding payments, which total Rs 3.53 billion.

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