SpiceJet confident of potential refund of Rs 449 crore in a legal matter
India, March 2 -- SpiceJet has taken note of the order passed by the Supreme Court of India, which declined to interfere with the earlier direction to provide a security deposit of Rs 144 crore to the court pending hearing on SpiceJet's claims. The company is examining the order and will comply with all court directions. SpiceJet would like to assure all stakeholders that this development has no impact on its day-to-day operations.The matter arises from a share transfer agreement involving SpiceJet, its promoter Ajay Singh, KAL Airways and Kalanithi Maran. SpiceJet has paid a total of Rs 730 crore to Kalanithi Maran and KAL Airways, including the entire principal amount of Rs 580 crore and Rs 150 crore towards interest. The remaining amount...
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