Kal Airways and SpiceJet should settle the dispute:Supreme Court
The Supreme Court on Thursday said that the matter relating to over payment of interest in connection with a share-transfer issue between low-cost airline SpiceJet and Kal Airways which is owned by the media baron Kalanithi Maran will be heard on April 12 Kal Airways and Maran had informed the apex court that the two proposals to settle their dispute with SpiceJet on payment of interest in connection with the share-transfer issue was not acceptable to them. They also informed that the Spice Jet airline owed them around Rs 920 crore in pursuance of an arbitral award. A bench of Chief Justice N V Ramana, opined that efforts should be taken to to settle the dispute, The bench has decided to hear the matter on April 12. SpiceJet, at first offered to pay Rs 300 crore towards a full-and-final settlement of the dispute or secondly, of the bank guarantee of Rs 270 crore deposited with the Delhi High Court, it would give Rs 100 crore for now and an order will be passed by the apex court urg