SpiceJet (SG, Delhi International) has secured a legal victory after the Delhi High Court dismissed an appeal by former backer Kalanithi Maran and his investment vehicle KAL Airways, in which he sought damages of INR13.23 billion rupees (USD155 million). Court records show the matter was disposed of on May 23.

The dispute stems back to a 2015 share transfer between Maran and the current SpiceJet promoter and majority shareholder, Ajay Singh. Under the agreement, Singh acquired a 58.46% shareholding in SpiceJet plus…

Source: ch aviation
Read more: Former investor in India's SpiceJet loses 5mn appeal