SC rejects SpiceJet’s plea in payout case
DSIJ Intelligence / 28 Jul 2017
A plea by SpiceJet and its promoter Ajay Singh as regards payout of Rs 579 crore in the promoter dispute case has been rejected by the apex court on Friday.
A plea by SpiceJet and its promoter Ajay Singh as regards payout of Rs 579 crore in the promoter dispute case has been rejected by the apex court on Friday.
The Supreme Court further asked SpiceJet and promoter Ajay Singh to deposit Rs 579 crore before the Delhi High Court.
Ajay Singh-controlled SpiceJet had moved to the Supreme Court challenging a Delhi High Court order asking it to deposit the money in a share transfer dispute with its former promoter and South Indian media baron Kalanithi Maran.
SpiceJet was trading at Rs 115.90 or 0.80% as at 1216 hours on Friday, on the BSE. The stock had hit its 52-week high of Rs 136.30 on June 22, 2017 and 52-week low of Rs 54.50 on November 9, 2016.
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