Lawstreet Journal

Relief to SpiceJet as SC Stays Order demanding Deposition of Rs. 243 Crores

Lawstreet Journal 10 Nov 2020 12:31am

Image courtesy: Lawstreet Journal Business Relief to SpiceJet as SC Stays Order demanding Deposition of Rs. 243 Crores

In a share transfer dispute, the High Court has asked SpiceJet and its promoter, Ajay Singh, to deposit around Rs 243 crores as interest payable on Rs 579 crores. 

Aggrieved with this order of the High Court, SpiceJet appealed to the apex court for setting aside such order of payment.

The Supreme Court comprising of Justices A S Bopanna and V Ramasubramanium and headed by Chief Justice of India Sharad Arvind Bobde passed an interim order and stayed the order of Delhi High Court on November 9, 2020 and gave relief to SpiceJet in the matter.

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Tagged: Airlines  
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