The Supreme Court allowed SpiceJet and its Managing Director Ajay Singh to again move the Delhi High Court in their arbitration dispute with Kalanithi Maran and KAL Airways, linked to a ₹144-crore deposit. The airline referred to a new government emergency credit scheme introduced for the aviation sector amid the West Asia oil crisis.
The Supreme Court permitted SpiceJet and its Managing Director, Ajay Singh, to approach the Delhi High Court once again in their ongoing arbitration dispute with Kalanithi Maran and KAL Airways.
The airline argued that a recent government emergency credit-line guarantee scheme for the aviation sector should be considered in light of the West Asia oil crisis.
A Bench of Justices P.S. Narasimha and Alok Aradhe said,
“We permit the petitioners to approach the High Court on the basis of the subsequent developments, such as the governmental order dated 5/5/2026.”
The Court further observed that the subsequent development pertains to a policy decision on emergency credit-line guarantees, and that the Delhi High Court may consider the request since the Section 34 petition is scheduled for final disposal on July 18.
Earlier, SpiceJet an airline in the budget segment approached the Supreme Court after a Delhi High Court order required it to deposit Rs.144.5 crore in the long-running dispute involving Kalanithi Maran and KAL Airways Pvt. Ltd.
This move marks the airline’s most recent effort to obtain relief amid growing financial pressure. In its judgment dated 4 May, the Delhi High Court directed SpiceJet to immediately comply with an earlier order requiring it to deposit Rs.144.51 crore with the court registry.
The dispute traces back to January 2015, when Maran and KAL Airways transferred their 58.46% stake in SpiceJet to Ajay Singh amid severe financial strain. As part of this transaction, Maran reportedly injected approximately Rs.679 crore into SpiceJet through convertible warrants and preference shares.
Subsequently, Maran contended that the warrants and preference shares were not issued by the company’s new management, prompting arbitration proceedings.
In July 2018, an arbitral tribunal dismissed Maran’s claim seeking over Rs.1,300 crore in damages. However, it ordered SpiceJet to refund Rs.579 crore, along with interest.
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