Debangana Ray
Published on August 18, 2022 at 18:02 IST
The Supreme Court contended that it would consider a joint request for mediation between SpiceJet and Maran and his airways company in order to settle the disputes between them regarding a share-transfer issue.
There were three issues between the two parties for which there was a suggestion for mediation by the parties.
The present matter pertains to the non-issuance of warrants in favour of Maran for non-payment of loans after the transfer of ownership to Singh, who is the controlling shareholder of SpiceJet.
The dispute started after he took back control of SpiceJet in February 2015 during a financial crisis that was being faced by the airline by Maran and Kal .
Airways sold their entire Rs 35.04 crore equity stake in SpiceJet, amounting to a 58.46% stake in the airline, to co-founder Singh in February 2015 for just Rs. 2.