Supreme Court Directs SpiceJet to Deposit ₹144 Crore; Airline Says Operations Unaffected

SpiceJet has acknowledged a recent order by the Supreme Court of India directing the airline to provide a security deposit of ₹144 crore while hearings continue in an ongoing legal dispute. The airline stated that it is reviewing the order and will comply fully with all court directions, while assuring stakeholders that its daily operations remain unaffected.

Supreme Court Declines to Interfere

The Supreme Court declined to interfere with earlier directions requiring SpiceJet to deposit the specified amount with the court. The deposit will remain under judicial custody pending the final outcome of the airline’s appeal related to arbitration proceedings.

According to the company, the payment is purely a court-held deposit and does not represent a final liability. The airline continues to pursue legal remedies as part of the ongoing judicial process.

Background of the Dispute

The matter stems from a long-standing share transfer agreement dispute involving SpiceJet, its promoter Ajay Singh, KAL Airways, and former airline promoter Kalanithi Maran. Over the course of the proceedings, SpiceJet has already paid ₹730 crore to Kalanithi Maran and KAL Airways. This includes the entire principal amount of ₹580 crore along with ₹150 crore paid as interest.

The remaining amount directed by the court will now be deposited in accordance with arbitration-related proceedings.

Company Confident of Refund Claim

SpiceJet indicated that it remains confident about recovering funds once the legal process concludes. The airline expects a potential refund of ₹449 crore, subject to court decisions.

Importantly, claims exceeding ₹1,300 crore in damages filed by KAL Airways and Kalanithi Maran have already been rejected, with those rulings attaining finality. Additionally, challenges to the arbitral award filed by the opposing parties have been dismissed.

The Delhi High Court is currently hearing SpiceJet’s claims seeking refunds, where the company said there is already a prima facie observation in its favour.

SpiceJet Share Price Performance

On March 18, 2026, SpiceJet share price (NSE: SPICEJET) opened ₹15.31. At 11:56 AM, the share price of SpiceJet was trading at ₹14.75, down by 8.27% on the NSE.

Also Read: SpiceJet Signs MoU To Add 10 Aircraft, Targets 300+ Daily Flights By Winter 2026!

Conclusion

While the Supreme Court’s directive adds another development to the prolonged legal battle, SpiceJet has reiterated that the order does not affect its operational performance. The airline continues to comply with judicial requirements while pursuing legal remedies to recover disputed amounts. The final outcome of the arbitration and court proceedings will determine the financial implications for all parties involved.

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