Indian media mogul Kalanithi Maran and his aviation investment firm KAL Airways filed appeals to the Indian Supreme Court against the May 2025 Delhi High Court ruling dismissing their INR13.2 billion Indian rupee (USD154 million) claims against SpiceJet (SG, Delhi International).
The court set the first hearings in two related, but formally separate cases, SLP(C) No. 017270 (filed by KAL Airways) and SLP(C) No. 017306 (filed by Maran himself), for July 18, 2025. No arguments are available just yet.
Maran and KAL Airways held a 58.5% stake in SpiceJet between 2010 and 2015. He later sold the shares to Ajay Singh, who continues to own the airline. He later argued that as a part of the transaction, he paid for convertible warrants and preference shares, which were never issued. This prompted a lengthy legal battle which lasted until May 2025, when the Delhi High Court dismissed Maran's and KAL Airways' claims, calling the strategy of refining appeals by the plaintiffs a "wilful concealment of facts ... and a calculated gamble taken by the appellants."
SpiceJet did not respond to ch-aviation's request for comment.
