SpiceJet Share Price in Focus; Delhi HC Denies Property Plea, Grants 4 Weeks to Deposit ₹144 Crore

The Delhi High Court has rejected a request by SpiceJet to attach property instead of depositing ₹144.5 crore in its dispute with Kalanithi Maran and KAL Airways Pvt. Ltd. The court has given the airline 4 more weeks to comply with the payment order. 

As per the reports, Justice Subramonium Prasad said the matter had been heard at length but did not warrant any change in the earlier direction. The court indicated that the airline must arrange the funds within the extended timeline. 

Property Offer Not Accepted 

SpiceJet had proposed offering an unencumbered property valued at around ₹148 crore in place of a cash deposit. The court declined the proposal, noting that its January order required payment in cash. 

The airline’s counsel told the court that an immediate payout would affect operations. Reference was made to around 22,000 passengers and 7,000 employees, along with cancellations on Gulf routes that have added pressure on cash flows.  

The court, however, did not accept these grounds. 

Supreme Court Had Refused Relief 

The application followed a February decision by the Supreme Court of India, which refused to stay the High Court’s earlier order. Costs of ₹1 lakh were also imposed for prolonging the matter. 

This meant SpiceJet was required to deposit the amount within 6 weeks of the January ruling. The latest plea was filed after that direction. 

Amount Due and Prior Payments 

In its January order, the High Court recorded that ₹194.51 crore was payable under earlier directions. After adjusting ₹50 crore already deposited, the remaining ₹144.51 crore is outstanding. 

The court also noted that earlier timelines set by the Supreme Court had not been fully followed. 

Background of the Dispute 

The dispute dates back to 2015, when Maran and KAL Airways transferred a 58.46% stake in SpiceJet to Ajay Singhduring a period of financial difficulty. Around ₹679 crore was infused through warrants and preference shares. 

Maran later sought a refund, alleging the instruments were not issued. In 2018, an arbitration tribunal directed a payment of ₹579 crore with interest. The matter has since continued through multiple legal proceedings. 

Read More: Tata Power Share Price Rises Up to 4% as Gujarat Clears New Supply Deal for Mundra Plant! 

SpiceJet Share Price Performance  

As of March 20, 2026, at 2:43 pm, SpiceJet Ltd share price stood at ₹12.11, a 2.81% decrease from its previous closing price. 

Conclusion 

The court has maintained its earlier position and set a final deadline for payment. Further action will depend on compliance within the four-week period. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.