Shares of SpiceJet Ltd rose 2% to touch a day’s high of Rs 45.78 on 26th May, after the low-cost carrier informed bourses that a division bench of Delhi High Court dismissed the appeal filed by KAL Airways and former promoter Kalanithi Maran seeking damages of more than Rs 1,300 crore and other claims.
The appeal sought over Rs 1,300 crore in damages, which had already been rejected earlier by the Arbitral Tribunal and a single-judge bench of the Delhi HC.
The Arbitral Tribunal, comprising three retired Supreme Court judges, had dismissed the original claims during arbitration proceedings.
The Delhi HC’s division bench upheld all previous rejections, ending the long legal battle over compensation claims.
As of March 2025, SpiceJet promoters held a 33.46% stake in the company.
At 12:12 PM, the shares of SpiceJet Ltd were trading 2.67% higher at Rs 45 on BSE, with the airline’s market cap at Rs 5,766.38 crore.
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