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The Supreme Court on Monday allowed Sun TV promoter Kalanithi Maran to encash Rs 270 crore in bank guarantee deposited by SpiceJet in a seven-year-old dispute over the airline’s acquisition.
The court asked SpiceJet to deposit Rs 75 crore to secure the interest amount payable to Maran in connection with a 2018 arbitral award. The airline has three months to furnish the amount and it was allowed to approach the Delhi High Court (HC) seeking relief in interest payment.
The Supreme Court passed the order while hearing SpiceJet’s appeal against a 2020 Delhi HC ruling directing the airline to pay
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