Team Blitz India
NEW DELHI: The Delhi High Court (HC) on May 17 overturned its previous ruling that had upheld the arbitral award favouring Kalanithi Maran over low-cost airline SpiceJet. This decision offers a respite for the cash-strapped carrier.
A bench comprising Justices Yashwant Varma and Ravinder Dudeja issued the order in response to a plea filed by SpiceJet’s Chairman and Managing Director (CMD), Ajay Singh, and the airline. Their appeal contested a prior single-judge order from July 2023, which had affirmed the award.
With this ruling, the case returns to the judge for reconsideration.
SpiceJet and Ajay Singh had specifically sought to annul the portion of the award which instructed them to refund Rs 270 crore to Kal Airways and Maran. They also sought a waiver of a 12 percent interest on warrants and the nullification of the 18 percent interest stipulated in the award.
