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Market Watch

Kalanithi Maran

Chairman & Managing Director, Sun Group

Birth DetailsJuly 24, 1964 | Chennai, Tamil Nadu, India

NationalityIndian

LeagueBusiness Leader

EducationBachelor’s Degree, University of Madras; MBA, University of Scranton

Net Worth$1.8 billion (as of July 17, 2020)

Kalanithi Maran's Assets:

Sun Group
Sun TV Network

Kalanithi Maran's Journey so far ...

No politics, please! That was what pushed Kalanithi Maran to choose his own path and not follow in his father Murasoli Maran, who was a Union minister, and uncle and DMK supremo M Karunanidhi’s footsteps
Initially, he joined his family’s publishing business in 1987 after completing his studies in the United States. As his first independent venture, he started a monthly video magazine called Poomalai (garland) in 1990
The liberalisation of the Indian economy in 1991 had opened new avenues and cable TV was gaining popularity. Maran saw the opportunity and launched Sun TV -- a Tamil entertainment channel -- in 1993
His TV business was doing well but he had other ambitions. He further diversified his business with the creation of Sun Direct DTH services in 2005 which was launched in partnership with the Malaysian firm Astro Group
Maran forayed into the airlines business with the purchase of Spice Jet in 2010
He acquired the Indian Premier League (IPL) cricket team Sunrisers Hyderabad in 2012
Today, the Sun TV Network has 32 TV channels broadcasting in four major South Indian languages -- Tamil, Telugu, Kannada and Malayalam -- reaching over 95 million Indian households and its network spread across 27 countries
His group also owns 45 FM radio channels, 2 news dailies and 6 magazines
Among the many hats that he wears, one is that of a movie producer. His production house Sun Pictures has produced the 2010 Rajnikanth-Aishwarya Rai starer ‘Enthiran’ (Robot)
As per latest data, Maran is the richest individual in Tamil Nadu and one of the highest-paid CEOs in India

Before you go ...

After the death of his father, his uncle M. Karunanidhi offered him the DMK ticket for the Chennai Central Lok Sabha constituency in 2004 which he declined. His brother Dayanidhi Maran fought the elections instead

Last Updated: 12/02/2021

Kalanithi Maran News

SC sends back SpiceJet plea to Delhi HC over₹144 cr deposit
The Supreme Court has directed the Delhi High Court to review SpiceJet's request. SpiceJet sought to submit property deeds instead of depositing ₹144 crore. This reconsideration comes after the government announced an emergency credit scheme for airlines. SpiceJet hopes to benefit from this scheme to meet its financial obligations.
SpiceJet seeks Supreme Court approval to submit land title as security
SpiceJet has challenged the Delhi High Court's May 4 and March 18 orders rejecting its request to furnish an unencumbered plot of land in Gurugram as security. The HC had directed the airline to immediately comply with its earlier order to deposit the amount and imposed a cost of ₹50,000 for repeatedly seeking modification of the deposit direction.
Delhi HC dismisses SpiceJet and its promoter Ajay Singh's review plea in case against Maran-Kal Airways
The Delhi High Court dealt a blow to SpiceJet and its founder Ajay Singh by rejecting their review petitions, accompanied by a cost penalty of Rs 50,000. This ruling stems from an ongoing legal clash with Kalanithi Maran and Kal Airways, where SpiceJet aimed to challenge a directive mandating a deposit of Rs 144 crore.
Delhi High Court reserves order on SpiceJet's plea to review Rs 144 cr payment order in dispute with Maran
The Delhi High Court has announced it will take more time to decide on a review petition presented by SpiceJet and its head, Ajay Singh. Their aim is to challenge a past ruling that enforces a Rs 144 crore deposit in their dispute against Kalanithi Maran and Kal Airways.
Maran case: SpiceJet asks for more time to deposit Rs 144 cr
SpiceJet faces a critical juncture. The airline informed the Delhi High Court that an immediate Rs 144 crore deposit in a dispute with Kalanithi Maran would lead to its collapse. SpiceJet proposed offering land as security, seeking time to navigate the aviation sector's current challenges. The court will hear the matter again soon.
Delhi HC gives SpiceJet 4 more weeks to deposit Rs 144 crore, rejects property offer
SpiceJet has received a four-week extension from the Delhi High Court to deposit Rs 144 crore. This payment is part of an ongoing arbitration dispute. The court rejected the airline's proposal to offer land property as security instead of the cash amount. SpiceJet had cited financial difficulties for its request.
SpiceJet faces cash crunch, offers immovable property as security in Delhi HC arbitration case
SpiceJet faces a liquidity crunch. The airline proposed submitting a property deed worth ₹148 crore as security in a share transfer dispute. This offer comes instead of depositing ₹144 crore with the Delhi High Court registry. The court previously ordered the deposit, a decision the Supreme Court declined to review. The airline cited war-related flight cancellations for its financial strain.
SpiceJet vs KAL Airways, Kalanithi Maran: Airline confident of Rs 144 cr refund on completion of legal process
SpiceJet is confident of a Rs 449 crore refund after a legal process, despite the Supreme Court declining its plea to challenge a Delhi High Court order. The airline was asked to deposit Rs 144 crore in an arbitration dispute over share transfer involving former promoter Kalanithi Maran.
Supreme Court rejects SpiceJet's plea, imposes fine
Upholding the January 19 order that also reprimanded SpiceJet for failing to fulfil its obligations even after three years of the apex court's July 2023 order, a bench led by Justice PS Narsimha questioned the airline on how it would justify not paying the amount mentioned in its earlier order.
SpiceJet shares jump 6% after Supreme Court rejects Rs 1,300 crore damages appeal by Kalanithi Maran, KAL Airways
SpiceJet shares jumped 6% after the Supreme Court dismissed a Rs 1,323 crore damages appeal by KAL Airways and Kalanithi Maran. Courts criticized their delay and concealment in the share transfer dispute. Despite the win, analysts remain cautious, with a consensus ‘Sell’ rating and Rs 36 target price.
SC dismisses Rs 1,300 cr damages appeal by Kalanithi Maran & KAL Airways against SpiceJet
The Supreme Court dismissed KAL Airways and Kalanithi Maran’s appeal seeking Rs 1,323 crore in damages from SpiceJet, upholding the Delhi High Court’s ruling. The court criticized Maran’s delay and concealment in the appeals process, calling it a “calculated gamble.”
Uncle Stalin brokers truce between Maran brothers after Sun TV profit feud
Tamil Nadu Chief Minister M.K. Stalin intervened to resolve a business dispute between his nephews, Kalanithi and Dayanidhi Maran, concerning Sun TV Network shares. Dayanidhi had issued a legal notice accusing Kalanithi of unfairly acquiring profits, threatening legal escalation. Stalin's mediation led to Dayanidhi withdrawing the notice, averting a public family feud.
Kalanithi Maran, KAL Airways move SC after Delhi HC rejects plea seeking ₹1,323 crore from SpiceJet
Kalanithi Maran and KAL Airways have escalated their legal battle with SpiceJet to the Supreme Court, challenging the Delhi High Court's dismissal of their petition. They are seeking Rs 1,323 crore in damages from the budget airline related to a share transfer dispute.
Sun TV says Maran dispute pre-dates public listing, no impact on business
Sun TV Network addresses a 22-year-old stake dispute between Kalanithi Maran and Dayanidhi Maran. Dayanidhi Maran alleges fraudulent seizure of company control. Sun TV denies the claims, asserting legal compliance. The company states the matter is personal and doesn't affect operations. Dayanidhi threatens legal action if his demands aren't met. Sun TV's revenue and net profit have recently declined.
Sun TV shares tumble over 5% in intra-day trade amid concerns over rift between Maran brothers
Shares of Sun TV Network tumbled over 5 per cent in intra-day trade on Friday before recovering most of the lost ground to end 1 per cent lower amid concerns over a rift between brothers Dayanidhi and Kalanithi Maran.
Sun TV denies dispute between Dayanidhi Maran and Kalanithi Maran
Sun TV has refuted media reports of a dispute between Dayanidhi Maran and his brother Kalanithi Maran, concerning a 2003 share allotment. Dayanidhi allegedly sent a legal notice accusing Kalanithi of fraudulently seizing control. Sun TV clarified that the matter pertains to when the company was private, asserting all actions were legal and vetted before its public issue.
Dayanidhi Maran sends legal notice to Sun TV CMD Kalanithi Maran, says brother seized Group control ‘fraudulently'
Dayanidhi Maran accuses Kalanithi Maran of fraudulently seizing control of Sun Group. He alleges a disputed share allotment in 2003. Dayanidhi demands restoration of the original shareholding structure. He plans legal action, including approaching SFIO and BCCI. The dispute involves Sun TV Network and other assets. Allegations include misuse of dividends and illegal share transfers.
Is Anirudh Ravichander getting married to the co-owner of Sunrisers Hyderabad, Kavya Maran? Singer breaks silence
Rumors swirled online, fueled by sightings at events, suggesting a possible wedding between composer Anirudh Ravichander and Sunrisers Hyderabad co-owner Kavya Maran. The speculation gained traction due to their respective high profiles in the entertainment and sports industries. However, Anirudh quickly dispelled the rumors with a concise tweet, denying any impending nuptials and asking people to stop spreading false information.
Delhi HC grounds Maran's ₹1,323-crore damages claim in SpiceJet dispute
The Delhi High Court dismissed KAL Airways and Kalanithi Maran's appeal for ₹1,323 crore damages from SpiceJet in a share transfer dispute, citing delayed filings and concealed facts. The court criticised KAL and Maran's lack of good faith and "calculated gamble" in delaying proceedings. SpiceJet's shares saw a rise following the dismissal.
Delhi HC dismisses Rs 1,300 cr damages appeal by Kalanithi Maran & KAL Airways against SpiceJet
The Delhi High Court's Division Bench has dismissed the appeal by KAL Airways and Kalanithi Maran, who were seeking over ₹1,300 crore in damages from SpiceJet. These claims had already been rejected earlier by an Arbitral Tribunal consisting of three retired Supreme Court judges and later by a Single-Judge Bench of the Delhi High Court. The latest ruling reaffirms those earlier decisions.
Rajinikanth’s 171st film, Coolie release date confirmed. Lokesh Kanagaraj makes it official
Superstar Rajinikanth stars in the upcoming action thriller Coolie, directed by Lokesh Kanagaraj and set to release on August 14, 2025. Produced by Sun Pictures, this high-octane film features an ensemble cast, including Telugu superstar Nagarjuna, Satya Raj, and Aamir Khan in a cameo. It promises a visually stunning and musically spectacular experience.
Who is SRH owner Kavya Maran? Know her net worth, education & more
Kavya Maran, born into an influential Indian business family, leads Sunrisers Hyderabad as CEO. With an MBA from Warwick, she oversees team management and auction strategies. Her personal net worth is estimated at Rs 409 crore. Passionate about cricket, she actively supports SRH's IPL journey while maintaining a luxurious lifestyle.
Sun Group wins bid for Northern Superchargers franchise at £100 million
Kalanithi Maran's Sun Group has purchased 100% of The Hundred's Northern Superchargers for £100 million, becoming the first full-fledged owner in the league. IPL owners are actively expanding their presence in English cricket, with RPSG Group and a tech consortium also acquiring significant stakes in other teams.
SpiceJet is struggling to defy gravity. What are the odds?
SpiceJet, once a leading airline, is grappling with severe financial distress. Grounded aircraft, unpaid dues, and a dwindling market share have exacerbated its troubles. Promoter Ajay Singh is attempting to raise funds through various means to revive operations and settle liabilities, but challenges persist.
Revenue from cricket franchise SunRisers will rise substantially: Sun TV
Sun TV Network anticipates a significant rise in revenue from its cricket franchise SunRisers Hyderabad, supported by increased earnings from movie distribution. The company, which has expanded into Hindi, Bangla, and Marathi languages, remains confident in its content delivery strength across these markets.
SpiceJet averts shutdown crisis at Mumbai Airport, ops resume after financial matter resolved
SpiceJet avoided a disruption of its flights from Mumbai’s international airport by resolving a financial issue at the last moment. The airport had issued, then withdrew, an advisory about potential disruptions. Ongoing financial difficulties, including delayed salaries and overdue payments, have led to flight delays and other operational challenges for the airline.
SpiceJet vs Kalanithi Maran case: SC upholds Delhi HC's decision, directs reconsideration of arbitral award
In a significant relief to SpiceJet, the Supreme Court upheld a Delhi High Court division bench's decision to remand a 2018 arbitration case involving a share transfer dispute back to its single judge. The Court criticized the single judge for not applying his mind in the case between SpiceJet and its former promoter Kalanithi Maran. Previously, the single judge supported an arbitral award requiring SpiceJet and Chairman Ajay Singh to refund Rs 579 crore with interest to Maran. However, the division bench later remanded the dispute for fresh consideration. SpiceJet welcomed the Supreme Court's decision, viewing it as a vindication.
Kalanithi Maran vs SpiceJet: SC upholds Delhi HC's order remanding arbitration dispute back to single judge
The Supreme Court on Friday upheld a division bench order of the Delhi High Court, remanding the arbitration dispute in Kalanithi Maran's case against SpiceJet back to the single judge. The single judge had previously refused to interfere with the arbitral award issued in 2018. The tribunal had directed Ajay Singh-led SpiceJet to refund Rs 579 crore along with interest to the carrier's former promoter, Maran.
Sony eyeing M&A opportunities in India post termination of Zee deal: Tony Vinciquerra
Sony Pictures Entertainment (SPE) is in discussions for potential merger and acquisition deals in India following the collapse of its merger deal with Zee Entertainment. The deal between Sony Pictures Networks India (SPNI) and Zee couldn't go through due to regulatory issues and the deterioration of the Indian entertainment giant's financials. SPE's India arm held discussions with Viacom18 in 2020 to combine the two businesses.
SpiceJet says Sun Group's claims of damages are unfounded
SpiceJet and Ajay Singh refuted Kalanithi Maran and KAL Airways' Rs 1,323 crore damages claim as legally untenable. Maran plans to challenge a Delhi High Court order favoring SpiceJet. This ownership dispute dates to 2015. Following the claim, SpiceJet's shares dropped 1.24%. The court had overturned an earlier ruling favoring Maran.
SpiceJet refutes KAL, Maran's Rs 1,323 cr damages claim, terms it 'legally untenable'
SpiceJet refuted the Rs 1,323 crore damages sought by Kalanithi Maran and KAL Airways as legally untenable. Maran and KAL plan to challenge a Delhi High Court order that remanded the dispute, involving a Rs 579 crore refund, for reconsideration. The Delhi high court had overturned a previous ruling favoring Maran.
Kalanithi Maran to seek Rs 1,323 crore in damages from SpiceJet
According to the Sun group, as part of a share transfer agreement signed in 2015 when Ajay Singh took over SpiceJet, Maran and KAL Airways had paid SpiceJet Rs 679 crore for issuing warrants and preference shares. However, Maran alleged that the warrants and preference shares were not allotted, and initiated arbitration proceedings against SpiceJet and Singh.
KAL Airways, Kalanithi Maran to seek Rs 1,323 cr in damages from SpiceJet, Ajay Singh
Against this backdrop, Maran and his firm KAL Airways have decided to challenge the ruling after consultation with their legal counsel. The decree holders -- KAL Airways and Maran -- "believe that the aforesaid judgement is deeply flawed and warrants further scrutiny".
SpiceJet and Sun Group in fresh war of words over shareholders dispute
The Delhi High Court had set aside its earlier order upholding the arbitral award in favour of Kalanithi Maran and against low-cost airline SpiceJet, bringing in relief for the cash-strapped carrier.
SpiceJet to seek Rs 450 cr refund from erstwhile promoter Maran following Delhi HC ruling
SpiceJet plans to reclaim Rs 450 crore from former promoter Kalanithi Maran and KAL Airways, following a Delhi High Court division bench ruling in its favor. The airline previously paid Rs 730 crore to Maran, including principal and interest. The decision overturns a previous order and highlights unresolved legal issues.
Delhi HC sets aside order upholding arbitral award in favour of Kalanithi Maran and against SpiceJet
The Delhi High Court on Friday overturned a ruling that upheld an arbitral award favoring Kalanithi Maran against SpiceJet. Maran sought a refund of Rs 579 crore with interest from SpiceJet in a share transfer dispute dating back to January 2015. Shares of SpiceJet surged 6.5% post the court's decision.
Delhi HC mulls contempt proceedings against SpiceJet & chairman Ajay Singh over arbitration award payment dispute
The Delhi High Court has issued a notice to SpiceJet Ltd and its chairman Ajay Singh, questioning why contempt proceedings should not be initiated against them for violating and willfully not complying with court orders to pay an arbitration award to former promoter Kalanithi Maran and KAL Airways.
HC directs SpiceJet to pay Rs 50 crore to former promoter Kalanithi Maran, KAL Airways in six weeks
The case relates to a share transfer dispute between SpiceJet’s chairman and managing director Ajay Singh and Maran and his KAL Airways. In February 2015, Maran and KAL Airways transferred their entire 58.46% stake in the airline to Singh. In 2017, Maran and KAL Airways moved HC demanding that 180 million warrants redeemable as equity shares be transferred to them.
Delhi HC asks SpiceJet to pay Rs 50 cr to KAL Airways in 6 weeks
SpiceJet ordered by Delhi High Court to pay Rs 50 crore to KAL Airways within six weeks in a case related to an arbitration award won by Kalanithi Maran and KAL Airways. The payment is subject to the outcome of an appeal by SpiceJet challenging the interest amount, the HC said.
Delhi HC summons SpiceJet MD Ajay Singh again, seeks clarity on Maran arbitration payment plan
On July 31, the HC had upheld the arbitral award that had asked SpiceJet and Singh to pay Rs 579 crore with interest to Maran in a seven-year-old share transfer dispute.. The appeal against this is pending before a division bench of the HC.
Disney said to be in talks with Adani, Maran to sell India assets
Walt Disney Co. is in preliminary discussions with potential buyers, including billionaires Gautam Adani and Kalanithi Maran, for its India streaming and television business. Private equity funds have also expressed interest. Discussions involve selling part of the Indian operations, including sports rights and regional streaming service Disney+ Hotstar. Asset-sale talks have already been held with Reliance Industries Ltd. Disney is exploring strategic options for its business in India, including an outright sale or setting up a joint venture.
SpiceJet pays Kal Airways Rs 100 cr towards arbitral award after court order
Low-cost airline SpiceJet has paid Rs 100 crore ($1.5 million) to Kal Airways and its promoter Kalanithi Maran, following an order from the Delhi High Court. The payment was completed on Tuesday, with Rs 77.5 crore paid by September 11 and the remaining Rs 22.5 crore paid on September 12. The court had previously ordered SpiceJet to make the payment by September 10 or risk having their properties attached
SC warns SpiceJet chief of 'drastic action' in Credit Suisse default case
A bench comprising justices Vikram Nath and Ahsanuddin Amanullah said "drastic steps" will be taken towards Singh if he failed to comply with its order and that he might end up in "Tihar jail" on the next date of hearing on September 22.
As ‘Jailer’ strikes gold at box-office, producer Kalanithi Maran gifts gold coins to 300 crew members
The movie has proven to be a phenomenal success at the box-office, minting Rs 600 crore worldwide and Rs 400 crore on the home turf!
SpiceJet vs Maran case: Delhi HC asks promoter Ajay Singh to pay outstanding amount by Sept 12
The Delhi High Court has ordered SpiceJet and its promoter Ajay Singh to pay the remaining Rs 32.5 crore to Kalanithi Maran and Kal Airways by the end of the day or maximum by tomorrow. Singh's lawyers have stated that they have already paid Rs 62.5 crore and have a cheque for Rs 37.5 crore in Maran's name. SpiceJet and Singh had filed an appeal challenging an order to refund over Rs 270 crore to Maran and Kal Airways. The court had directed SpiceJet to pay Rs 100 crore by September 10.
After Rajinikanth, now 'Jailer' music director Anirudh Ravichander receives Porsche from Kalanithi Maran for blockbuster clocking Rs 600 cr
Anirudh Ravichander, the music director of the movie 'Jailer', received a luxury car as a gift from Kalanidhi Maran, the chairman of the Sun Group that produced the film.
SpiceJet gives lessors shares to clear dues worth Rs 231 crore
The fund crunch and grounded fleet has eroded SpiceJet's market share to 4.2% as of July - lower than that of new entrant Akasa, which only began commercial operations in August 2022.
Delhi HC asks SpiceJet to pay ₹100 cr to Kalanithi Maran by Sept 10
The Delhi High Court has ordered SpiceJet and its CMD Ajay Singh to pay former promoter Kalanithi Maran ₹100 crore by September 10, or else the airline's assets will be attached. The court rejected SpiceJet's offer to deposit ₹75 crore within 10 days. The court is only concerned with how SpiceJet will pay its liabilities to Maran.
Pay Kalanithi Maran Rs 100 cr by Sep 10, or will attach assets: HC tells SpiceJet & Singh
The Delhi High Court on Thursday asked carrier SpiceJet and CMD Ajay Singh to pay former promoter of the airline Kalanithi Maran a sum of Rs 100 crore by September 10 to prove bona fide, subject to their rights and contentions. Singh was due to appear today in the Delhi HC for non-compliance with the HC order that asked him to disclose assets and revenue collection.
HC refuses to stay SpiceJet's interest liability in arbitral award to former promoter Maran
The division bench of Delhi High Court on Thursday refused to stay its single-judge order upholding an arbitral award asking SpiceJet and its promoter Ajay Singh to refund Rs 579 crore plus interest of 18 per cent to media baron Kalanithi Maran.
Disclose assets, revenues in a week: HC to SpiceJet
The Delhi High Court has ordered SpiceJet to disclose its assets and revenue collection in connection with a request made by the airline’s former promoter, Kalanithi Maran, who is seeking 50% of its revenue against an arbitration award. SpiceJet has been given until August 24th to respond to the demand by Maran, who is seeking half of SpiceJet’s daily revenue on a weekly basis to cover the INR 393 crore ($54m) that it still owes him following a 2015 share transfer dispute.
Court upholds 2018 arbitral award in Maran-SpiceJet case
The HC also rejected SpiceJet's objections to the levy of interest @12% per annum on the amount to be refunded towards warrants and 18% per annum in case of non-payment within the stipulated time period. Maran and his KAL Airways had sought to set aside the award to the extent it failed to award restitution of 58.46% shareholding to them and that too, without assigning any reason.
Delhi HC rejects SpiceJet's plea, refuses to interfere with 2018 arbitral award
The Delhi High Court on Monday refused to interfere with the 2018 arbitral award that had asked SpiceJet and Ajay Singh to refund Rs 579 crore plus interest to former promoter Kalanithi Maran. Earlier in July, the Supreme Court had directed SpiceJet to pay the entire arbitral amount of Rs 380 crore to Maran. The business must be carried out with 'commercial morality', the apex court had observed.
Delhi High Court summons SpiceJet's Ajay Singh
Justice Yogesh Khanna, while issuing summon orders, pulled up Singh for failing to comply with its June 1 order that asked the low-cost airline to furnish details of its assets. It further directed Spicejet to file an affidavit disclosing all its assets before September 5, the next date of hearing.
No question of amicable settlement with SpiceJet: Sun Group
Last week, the Supreme Court had directed SpiceJet to pay the entire arbitral amount of Rs 380 crore to its former promoter Kalanithi Maran. The business must be carried out with 'commercial morality', the apex court had observed.
Supreme Court directs SpiceJet to pay Maran Rs 380-crore arbitration award
The Supreme Court has directed SpiceJet, which had sought two more months to pay former promoter Kalanithi Maran an arbitration award of INR380 crore ($51m), to pay the full amount immediately. The sum relates to a share transfer dispute, but the airline said it had already paid INR579 crore to its former boss and the matter was now subject to Delhi High Court arbitration.
Execution of Rs 578 cr arbitral award: SC refuses to extend time for SpiceJet to make payment to Maran, Kal Airways
In a jolt to low-cost airlines SpiceJet, the Supreme Court on Friday refused to extend the time for making payment to media baron Kalanidhi Maran and his Kal Airways in pursuance of an arbitral award of Rs 578 crore related to a share-transfer dispute, saying these are "luxury" litigations.
SC directs SpiceJet to pay Kalanithi Maran entire arbitral amount of Rs 380 cr
The Supreme Court on Friday directed budget carrier SpiceJet to pay the entire arbitral amount of Rs 380 crore to its former promoter Kalanithi Maran. It further observed that the business must be carried out with 'commercial morality'.
Court directs SpiceJet to pay Rs 380 crore to former promoter Kalanithi Maran
Delhi High Court has ordered SpiceJet to pay INR380 crore to its former promoter, Kalanithi Maran in a seven-year-old share transfer dispute with interest liabilities having risen from INR362 crore. Further, the judgment requires SpiceJet to provide details of its assets within four weeks. SpiceJet has stated it is already in discussions with Maran and his firm for a comprehensive settlement and has already paid the entire principal amount of INR578 crore earlier awarded by the arbitral tribunal.
SpiceJet shares fall 4% after Supreme Court directs airline to pay Rs 270 cr to Kalanithi Maran
On Monday, the Supreme Court of India said the bank guarantee of Rs 270 crore of SpiceJet must be encashed immediately and the money be paid to media baron Kalanithi Maran and his Kal Airways towards dues from the arbitral award of Rs 578 crore
Encash guarantee to pay arbitral award to Kalanithi Maran: Supreme Court to SpiceJet
The decision relates to a seven-year-old share transfer dispute between SpiceJet's chairman and managing director Ajay Singh and Kalanithi Maran and his KAL Airways. If SpiceJet pays the interest amount, then the balance dues and payment in terms of the award will remain stayed, the court said, adding that any default in payment will make the award executable.
SC directs SpiceJet to encash bank guarantee, pay Rs 270 cr to Kalanithi Maran
The Supreme Court on Monday directed SpiceJet airline to encash bank guarantee and pay Rs 270 crore to Kalanithi Maran within two weeks.
SC to consider plea for mediation to settle disputes between SpiceJet & Kalanithi Maran
A bench comprising Chief Justice N V Ramana and Justices J K Maheshwari and Hima Kohli was apprised by senior advocate Mukul Rohatgi, appearing for SpiceJet, that there were three pending issues between the low-cost airline and Maran and out of these, one has been settled on July 29.
Superstar Rajinikanth's next film titled 'Jailer', to be helmed by 'Beast' director Nelson Dilipkumar
The production company, a division of Sun TV Network Limited, shared the title of the film on Twitter.
Spicejet should consider giving some interest to Kal Airways, Kalanithi Maran: Supreme Court
A bench comprising Chief Justice N V Ramana and Justices Krishna Murari and Hima Kohli has now fixed the case for further hearing on April 18 after senior advocate Mukul Rohatgi, appearing for the Spicejet, sought some time for either settling the dispute or arguing the matter.
Not possible: Kalanithi Maran, KAL Airways to SC on Rs 600 crore settlement offer by SpiceJet
Kalanithi Maran and KAL Airways informed the Supreme Court on Monday that SpiceJet's offer of Rs 600 crore towards full and final settlement of the share transfer dispute was not acceptable.
SpiceJet offers around Rs 300 crore more to Maran as final settlement
A three-judge bench led by Chief Justice of India N V Ramana asked Maran to consider the offer and get back to it by Monday.
Sun TV's institutional investors vote against fresh terms for Maran, wife
An overwhelming majority of institutional shareholders of the Sun TV Network voted against proposals to approve the reappointment of Kalanithi Maran as executive chairman and wife Kavery Kalanithi as executive director in the annual general meeting held last week.
Enam’s Jiten Doshi raises corporate governance concerns at Sun TV
The company’s board only paid an interim dividend of Rs 5 per share, announced post March quarter earnings for the financial year ended March, 2021.
Sun TV management faces investor ire over sharp cut in FY21 dividend
Narayanan responded that the commission payouts have been unchanged in the past four years. Promoters Kalanithi Maran and his wife Kavery are the highest-paid executives in India. The couple took Rs 175 crore in FY20 and a similar amount in FY21.
Ajay Singh is keen to board Air India
Singh, who cofounded SpiceJet in 2005 and sold it to Kalanithi Maran in 2010, returned in 2015, and is credited with turning around the then-ailing airline.
SC stays HC order asking SpiceJet to pay around Rs 243 cr to Kalanithi Maran, firm
SpiceJet and its promoter Ajay Singh were asked to deposit around Rs 243 crore as interest payable on Rs 579 crore, which the high court had in 2017 asked the airline to deposit under the 2018 arbitration award in the share transfer dispute.
Tamil Nadu cable operators switch off Zee channels over discounts
As per multiple local cable operators (LCOs) in Tamil Nadu, Arasu Cable and SCN have switched off ZEE’s channels from their platform, while VK Digital has removed Zee Tamil from the base pack and changed its placement on its service. The issue, operators say, is related to dispute over discounts. The timing is crucial as ZEE is launching a Tamil movie channel, Zee Thirai, in the market.
HEG boss Ravi Jhunjhunwala's fat pay raises eyebrows
Ravi Jhunjhunwala on top of FY19 remuneration rankings, faces corporate governance red flags.
Delhi court extends protection from arrest to Chidambaram, Karti till May 6 in Aircel-Maxis case
The ED told the court that Karti was not cooperating in the case and evaded questions on certain emails retrieved from his computer hard disks.
Maran brothers approach HC seeking to quash framing of charges in telephone exchange case
They claimed that guidelines were not followed by the trial court at the time of framing charges in the case.
Jet Airways signs MoU with SBI, seeks govt nod for open offer exemption
SBI may convert its debt to equity which will be worth almost a 15% stake in Jet Airways.
Charges framed against Maran brothers in telephone exchange case
The charges were framed under sections 120-B (criminal conspiracy), 409 (criminal breach of trust) and 420 (cheating), and the Prevention of Corruption Act.
Telephone exchange case: HC dismisses Maran brothers' plea
Justice A D Jagadish Chandira directed the trial court to look into all materials carefully and frame proper and necessary charges in respect of all the seven accused.
Charges framed against Maran brothers in 'illegal' telephone exchange case
All the seven accused, including the Maran brothers, were present in the court at the time of farming of charges, after which the case was slated for commencement of formal trial from September 14.
Aircel-Maxis case: Court gives 2 months to CBI for obtaining sanction to prosecute
The agency had on July 19 filed charge sheet against the Congress leader, his son Karti, 10 individuals, including public servants, and six companies as accused in the case.
SC asks Dayanidhi Maran to face trial in illegal telephone exchange case
Maran had challenged the Madras High Court's July 25 decision setting aside a CBI court order discharging him in the case.
High Court sets aside order discharging Maran brothers in telephone exchange case
The special CBI court had in March discharged Dayanidhi Maran, his brother Kalanithi and others accused in the case.
Ajay Singh may not have to dilute stake in airline
A SpiceJet executive said the amount the airline has to pay is already deposited in an escrow account as per an earlier order of the Delhi High Court.
Kalanithi Maran loses Rs 1,323-crore arbitration against Spicejet; but gets Rs 571 cr refund
The low-cost carrier has informed the exchanges that on July 20, an arbitration tribunal rejected Maran's claim of damages of Rs 1,323 crore for not issuing convertible warrants
Aircel-Maxis: ED may file charge sheet against Karti Chidambaram, others
The charge sheet, called the prosecution complaint in the Enforcement Directorate (ED) parlance, is expected to be filed before the court of special judge O P Saini.
Maran brothers discharged in Telephone exchange scam
According to the CBI, Dayanidhi Maran, during the check period of June 2004 to December 2006, installed a private telephone exchange at his residences in Chennai.
Kalanithi liable for SpiceJet 'tax defaults': Additional Solicitor General
The Income Tax department today informed the Madras High Court that Kalanithi Maran was liable for the 'tax deducted at source (TDS) defaults' made by the company.
CBI opposes discharge pleas of Maran brothers in 'illegal' telephone exchange case
Counsel for the Maran brothers and others argued they were innocent and had not committed any irregularities as alleged by the prosecution.
Maran row: SpiceJet deposits Rs 250 crore with HC registrar
The Ajay Singh-promoted budget carrier said it has done so in compliance with court orders.
SES flags pay of Sun TV promoters & Jet buy, slams lack of CSR spend
The report said that the media company spent Rs 380 crore on plant and machinery, most of it on acquiring a private jet.
SpiceJet furnishes Rs 329 crore bank guarantee to court
Last month, the SC dismissed the appeals of the budget carrier challenging the Delhi HC's verdict asking it to deposit Rs 579 crore in connection with the share transfer dispute.
Midcap rally rains billions for Sun TV’s Maran, dozen others
According to Bloomberg Billionaire index, Maran was India’s 21st richest individual as on date.
CBI, ED question Aircel-Maxis verdict
The CBI court in February this year discharged all the accused, including Dayanidhi Maran and his brother Kalanithi, saying that there was no prima facie case.
Former promoter Kalanithi Maran seeks over Rs 2,000 crore compensation from SpiceJet
Maran has sought compensation due to losses incurred because of SpiceJet’s alleged failure to issue convertible warrants and preference shares to him and his KAL Airways.
SpiceJet to deposit Rs 579 crore in row with Kalanithi Maran: Delhi High Court
It said it has modified the single judge's order directing the airline to deposit the entire amount in installments over a period of 12 months.
Delhi High Court's order on SpiceJet-Maran share transfer row likely tomorrow
Under the SPA, Maran and Kal Airways had transferred their entire 350,428,758 equity shares (58.46 per cent stake) in the airline to Ajay Singh.
CBI to challenge order on Aircel-Maxis in Delhi High Court
The Enforcement Directorate, the finance ministry wing that probes money laundering, has already filed a petition in the Delhi HC against the discharge of the Maran brothers.
Aircel-Maxis case: ED moves High Court challenging discharge order
As per the lawyers associated with ED, the appeal has been filed against the trial court's February 2 order and is likely to be listed soon for hearing.
Meet the promoters who turned billionaires in the midcap rally
The list includes Kalanithi Maran, Vikas Oberoi, Kiran Mazumdar Shaw and Gautam Adani.
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