SpiceJet Faces ₹400 Crore Claim from Maran Amid Ongoing Payment Dispute

SpiceJet Faces Arbitration Dispute Over ₹400 Crore

Mumbai/New Delhi: The Delhi High Court heard a petition by SpiceJet, the country's third-largest airline, seeking relief against an earlier order directing it to deposit ₹144.5 crore in its long-running arbitration dispute with KAL Airways, owned by Kalanithi Maran.

SpiceJet owes over ₹400 crore, including interest, according to Sun Group chairman Kalanithi Maran. This figure is significantly higher than the ₹144.5 crore cited by the cash-strapped airline. Senior lawyer Jayant Mehta, representing KAL Airways, argued that interest is not being calculated properly in SpiceJet's books, resulting in an outstanding amount of more than ₹400 crore.

SpiceJet's senior lawyer Mukul Rohatgi, however, claimed that the airline is under financial stress due to the West Asia war and rising aviation turbine fuel prices. Rohatgi stated that SpiceJet is trying to sell a property to pay the dues and requested that the court consider the airline's current financial situation.

| Dispute Figures | SpiceJet's Claim | KAL Airways' Claim | | --- | --- | --- | | Amount owed by SpiceJet | ₹144.5 crore | ₹400 crore (including interest) | | Principal amount and interest already paid by SpiceJet | ₹730 crore | - | | Outstanding amount due under earlier directions | ₹144.51 crore | ₹194.51 crore |

After hearing the arguments, Justice Subramonium Prasad expressed concerns that the party was seeking to take advantage of a war occurring in 2026 in support of its case. In February 2023, the Supreme Court directed the encashment of a ₹270 crore bank guarantee and ordered SpiceJet to pay ₹75 crore towards interest within a specified period.

SpiceJet argued that the order passed should be in public interest, noting its status as the country's third-largest airline. The Delhi High Court reserved its judgment on the review plea. SpiceJet had earlier told the court on Monday that it could "collapse" if forced to immediately deposit ₹144.5 crore, citing disruptions caused by the West Asia conflict and rising aviation turbine fuel prices.

KAL Airways argued that the review application was filed "to keep the sword hanging," and said that the award should be satisfied through monetary payment, not property. SpiceJet moved a review petition on April 7 seeking relief from the high court's earlier direction requiring it to deposit ₹144.5 crore by April 14. The airline proposed to furnish a one-acre commercial property in Gurugram as security instead of making an immediate cash payment.

The dispute dates back to January 2015, when Maran and KAL Airways transferred their 58.46% stake in SpiceJet to Ajay Singh during acute financial distress for the airline. As part of the transaction, Maran and KAL Airways had infused about ₹679 crore into the airline through convertible warrants and preference shares.