Sensex Today | Stock Market LIVE Updates: SpiceJet to seek Rs 450 crore refund from Kalanithi Maran, KAL Airways

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SpiceJet intends to request a refund of Rs 450 crore from former promoter Kalanithi Maran and his firm KAL Airways.

This move follows a Delhi High Court division bench's decision on May 17, overturning a single judge bench order.

The initial order upheld an arbitral award, directing SpiceJet and its promoter Ajay Singh to repay Rs 579 crore plus interest to Maran.

Singh and SpiceJet filed appeals against the single judge's ruling, leading to the division bench's decision.

The case has been remanded back to the relevant court for reconsideration of petitions challenging the arbitral award.


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