SpiceJet Ltd. witnessed a 4% surge in its share price after the Delhi High Court Division Bench dismissed a ₹1,300 crore damages claim filed by KAL Airways and Kalanithi Maran.
Key Legal Ruling & Market Impact
The court rejected the appeal, reinforcing previous rulings by the Arbitral Tribunal and a Single-Judge Bench, which had already dismissed the damages claim. Following the verdict, SpiceJet’s stock climbed to ₹45.78, marking its biggest intraday gain since May 12, 2025.
Background of the Legal Dispute
- Maran & KAL Airways initially sought ₹1,323 crore in damages, alleging SpiceJet failed to issue convertible warrants and preference shares as per a 2015 share sale agreement.
- Arbitral Tribunal ruled that SpiceJet owed ₹579 crore to Maran but dismissed the damages claim.
- Delhi HC upheld the tribunal’s decision, rejecting Maran’s appeal for additional compensation.
Investor Sentiment & Future Outlook
The ruling provides legal clarity for SpiceJet, boosting investor confidence in the airline’s financial stability. Analysts expect continued stock momentum, with SpiceJet focusing on fleet expansion and operational efficiency.
With legal uncertainties resolved, SpiceJet is poised for growth, reinforcing its position in India’s aviation sector.
