SC stays HC order in SpiceJet case
[ad_1]
The Supreme Court on Friday stayed a Delhi High Court order of September 2, directing SpiceJet to pay ₹242.93 crore to KAL Airways and Kalanithi Maran, the earlier house owners, inside six weeks.
A Bench led by Chief Justice of India S.A. Bobde issued discover on the enchantment filed by the low-cost airline towards the High Court order.
“Issue notice returnable within four weeks. There shall be stay of operation of the impugned order until further orders,” the court docket order mentioned.
KAL and Mr. Maran had transferred their shareholding to Ajay Singh, at present the chairman and managing director of the airline, in December 2014.
The six-week deadline for fee had expired on October 14. Mr. Maran and KAL had waited every week earlier than transferring the High Court once more.
On September 2, the High Court had, in an oral order, mentioned that if the fee was not made in time, Mr. Maran and KAL have been at liberty to revive their prayers “seeking directions to the joint debtors to maintain status quo with respect to their shareholding.”
The case pertains to the dispute arising out of non-issuance of warrants and choice shares in favour of Mr. Maran.
A letter from the Editor
Dear subscriber,
Thank you!
Your assist for our journalism is invaluable. It’s a assist for fact and equity in journalism. It has helped us hold apace with occasions and happenings.
The Puucho has all the time stood for journalism that’s in the general public curiosity. At this tough time, it turns into much more vital that now we have entry to info that has a bearing on our well being and well-being, our lives, and livelihoods. As a subscriber, you aren’t solely a beneficiary of our work but additionally its enabler.
We additionally reiterate right here the promise that our group of reporters, copy editors, fact-checkers, designers, and photographers will ship high quality journalism that stays away from vested curiosity and political propaganda.
Suresh Nambath
[ad_2]
