SpiceJet on Monday said it remains confident of securing a potential refund of ₹449 crore upon the completion of ongoing legal proceedings related to its long-running dispute with former promoter Kalanithi Maran and KAL Airways.
The statement follows an order by the Supreme Court of India, which declined to interfere with an earlier direction requiring SpiceJet to deposit ₹144 crore as security with the court pending the hearing of its claims. The airline said it is examining the order and will comply with all directions issued by the court.
No Impact on SpiceJet Operations
SpiceJet clarified that the development has no impact on its day-to-day operations, seeking to reassure passengers, investors and other stakeholders amid heightened attention around the case.
The dispute stems from a share transfer agreement involving SpiceJet, its promoter Ajay Singh, KAL Airways and Kalanithi Maran. According to the airline, it has already paid a total of ₹730 crore to Kalanithi Maran and KAL Airways. This includes the entire principal amount of ₹580 crore along with ₹150 crore towards interest.
The additional ₹144 crore, as directed, will be deposited with the court in line with the arbitration process. SpiceJet emphasised that this payment is in the nature of a court-held deposit while its appeal is under consideration.
₹449 Crore Refund Claim
SpiceJet said it remains confident of receiving a potential refund of ₹449 crore at the conclusion of the legal process. The airline added that its claims for recovery of amounts paid are currently being heard by the Delhi High Court, where it claims there is a prima facie finding in its favour.
The company further stated that damage claims exceeding ₹1,300 crore made by KAL Airways and Kalanithi Maran have been rejected, and those orders have attained finality. It also noted that all challenges to the arbitral award by the former promoter and KAL Airways have been dismissed.
Legal Clarity Amid Aviation Sector Recovery
The latest update comes at a time when India’s aviation sector is witnessing steady recovery and growth. SpiceJet reiterated its commitment to fully complying with judicial directions while pursuing its legal remedies through due process.
With the Supreme Court proceedings ongoing and the Delhi High Court hearing its refund claims, the airline expressed confidence that the final outcome will support its position, potentially unlocking significant funds and bringing closure to one of the most closely watched legal battles in the Indian aviation industry.