KL Airways and Kalanithi Maran will claim ₹1323 crore against SpiceJet and Ajay, issued statement

KAL Airways and Kalanithi Maran announced on Monday that they would seek payment from SpiceJet and its CEO, Ajay Singh, totaling more than Rs 1,323 crore. He has further stated that he intends to contest the ruling made against him in this case by the Delhi High Court. The single judge bench's ruling, which had supported SpiceJet and Ajay Singh's decision to give Maran back Rs 579 crore and interest, was overturned by the division bench of the court earlier on May 17.

Singh and SpiceJet's appeals against the July 31, 2023, single judge order were accepted by the bench, and the case was remanded to the appropriate court for new consideration of the petitions contesting the arbitration award.

Subsequently, Maran and his company KAL Airways, after consulting their legal advisors, decided to challenge the decision. KAL Airways and Maran believe that there are serious deficiencies in the said order. According to him, there is a need for further investigation into his dispute with SpiceJet and Ajay Singh.

KAL Airways said in a statement on Monday, "Parallel to this, they are also seeking compensation of over Rs 1,323 crore assessed by FTI Consulting LLP, United Kingdom, a globally renowned firm that specializes in contract commitments. is an expert in estimating the damages arising from a breach of the According to the statement, they will pursue the implementation of the arbitration award seeking refund of the pending dues of Rs 353.50 crore.