Kalanithi Maran moves SC after Delhi HC rejects ₹1,323 crore claim against SpiceJet
On Friday, a vacation bench of Justices P.S. Narasimha and R. Mahadevan agreed to hear their petitions on 18 July.
Maran and KAL Airways have challenged the Delhi high court's 23 May order that dismissed their appeals due to delays.
A division bench of Justices C. Hari Shankar and Ajay Digpaul refused to condone a 55-day delay in filing and a 226-day delay in re-filing their appeals, calling their actions a 'calculated gamble' and accusing them of deliberately concealing information from the court and SpiceJet.
It is to be noted that condonation of delay means seeking the court's permission to file a case or appeal after the legal deadline has passed. Under the Limitation Act, parties usually get 90 days to file an appeal from a single judge's decision to a division bench. If they miss this deadline, they must explain the reasons for the delay and seek condonation. In this case, the court did not accept their explanation.
This legal battle dates back to 2015, when Maran and KAL Airways transferred their entire stake in SpiceJet to Ajay Singh for a nominal ₹ 2 amid a financial crisis that had nearly shut down the airline. As part of the deal, Singh took over liabilities worth ₹ 1,500 crore.
Maran and KAL Airways had also paid ₹ 679 crore to SpiceJet for issuing convertible warrants and preference shares. However, these were never issued under Singh's management, prompting Maran to approach the Delhi high court in 2017 for a refund.
In July 2018, an arbitration panel of three retired Supreme Court judges rejected Maran's claim for ₹ 1,323 crore in damages but ordered a refund of ₹ 579 crore plus interest. Both sides challenged parts of this award under the Arbitration Act in the high court.
In 2023, Justice Chandra Dhari Singh of the Delhi high court upheld the arbitral award, ordering SpiceJet and Singh to refund ₹ 308 crore for warrants and ₹ 270 crore for preference shares, along with applicable interest. SpiceJet then challenged this ruling before the division bench.
In May 2024, the division bench gave relief to SpiceJet by sending the case back to a single judge for fresh consideration, putting the ₹ 270 crore refund on hold.
Maran and KAL Airways approached the Supreme Court against this decision to remand the case, but their plea was dismissed in July 2024.
Soon after, they refiled their long-pending appeals against the single judge's 2023 order, leading to the high court division bench's May 2025 dismissal due to delays.
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