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Last Updated : May 31, 2016 07:31 PM IST | Source: CNBC-TV18

SpiceJet scuttling warrants issue: Ex-prmoter Kalanithi Maran

Under the deal with SpiceJet promoter Ajay Singh, Maran was supposed to get warrants to take his shareholding in the airline to 24 percent.

 
 
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The Delhi High Court has reserved its order in the case between the former and current promoters of Spicejet. 

SpiceJet continues to maintain that it is not opposed to issuing warrants to former promoter Kalanithi Maran. However, market regulator Securities and Exchange Board of India (Sebi) is not waving the green flag to the issue of warrants.

Under the deal with SpiceJet promoter Ajay Singh, Maran was supposed to get warrants to take his shareholding in the airline to 24 percent.

Though, Maran's lawyers today accused SpiceJet of scuttling the issue of warrants to keep his stake at just the current 2 percent.
First Published on May 31, 2016 07:31 pm
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