High court orders SpiceJet to deposit RS 579 crores

Delhi, July 4: A case hearing took place yesterday.Delhi High Court has orderderd SpiceJet airline to deposit Rs 579 crore in a share transfer dispute with its previous owner Kalanithi Maran. However a relief was given by allowing the company to deposit the amount in two parts.

A bench of Justice said that it was essential to modify the single judge order. The court said that one installment of money can be deposited by way of a bank guarantee and the remaining by cash.

The judges have also dismissed the plea of the airline and co-founder Ajay Singh against the last year order issued by a single judge. Earlier kalanidhi Maran has transfered the ownership of the kal Airlines to Spice Jet. Finally the company said that we will take a final decision soon.