New Delhi, Nov 6 (SocialNews.XYZ) In a relief for SpiceJet, the Supreme Court on Friday stayed the Delhi High Court order direction the SpiceJet Ltd to deposit Rs 243 crore with its registry. The High Court order had come in the ongoing arbitration with the airline's former owner Kalanithi Maran and his company KAL Airways.
A bench headed by Chief Justice S.A. Bobde and comprising Justices A.S. Bopanna and V. Ramasubramanian, in its order, said: "Issue notice returnable within four weeks. There shall be stay of operation of the impugned order until further orders." The Delhi High Court on September 2, had granted six weeks to Ajay Singh-led SpiceJet Ltd to make the payment before the October 14 deadline.
Kalanithi Maran and KAL Airways on October 22, had moved Delhi High Court against non-payment of Rs 243 crore by SpiceJet, and urged the court to allow attachment of Singh's shareholding in the airline.
They also urged the High Court to appoint an administrator to take control of the management of the company. "Till such date, no payment of the amount directed has been made by the judgment debtor and making the judgment debtor willfully non-compliant and disobedient of this Courts' order," said the plea by Maran.
SpiceJet moved the Supreme Court challenging this order by the High Court on the payment of Rs 243 crores . During the hearing, the top court said it will hear the matter in detail and sought response from Kalanithi Maran and KAL Airways, while ordering for an interim stay.
Source: IANS
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