Supreme Court tells SpiceJet to seek relief on 144.5 crore deposit

The Supreme Court has directed budget airline SpiceJet to seek relief from a 144.5 crore rupee deposit order by approaching the Delhi High Court. The order is part of a long-running arbitration dispute with media baron Kalanithi Maran and his company, KAL Airways.

A bench of Justices P.S. Narasimha and Alok Aradhe declined to grant SpiceJet an extension directly but instructed the High Court to consider the airline's plea in light of subsequent developments. These include recent government support measures and a proposed relief package for airlines affected by the ongoing West Asia crisis. The bench noted the High Court could examine the matter considering the policy decision on emergency credit line guarantees and prevailing circumstances.

During the hearing, senior advocate Mukul Rohatgi, representing SpiceJet, sought approximately three months to make the payment. He argued this timeline aligned with a government support package for the aviation sector, announced on May 5 with an outlay of 5,000 crore rupees, which he said was expected to become operational around July. Rohatgi stated the airline has little liquidity and offered a one-acre commercial property in Gurugram as...