SC sends back SpiceJet plea to Delhi HC over₹144 cr deposit

New Delhi: The Supreme Court Tuesday refused to interfere with a Delhi High Court order that rejected SpiceJet's plea to submit a property title deed instead of depositing ₹144 crore in a share-transfer dispute with the airline's former promoters, Kalanithi Maran and KAL Airways.

However, the apex court asked the high court to reconsider SpiceJet's plea in light of subsequent developments where the government has approved an emergency credit scheme of about ₹5,000 crore for airlines hit by the West Asia conflict. Seeking a three-month extension deposit ₹144 crore, the airline said it would soon get the benefit of the government's emergency credit line guarantee scheme.

Mukul Rohatgi, appearing for SpiceJet, said only three airlines remain eligible for the bailout, with SpiceJet the smallest among them.