The Supreme Court on August 16 said that it would consider a joint request for mediation of SpiceJet and its former promoter Kalanithi Maran to settle their share transfer dispute amicably.
The low-cost he airline and Maran informed the top court on Tuesday that certain issues have been settled by the parties, while some unresolved issues required more time to arrive at a settlement. The parties, through their counsels, proposed referring the issue to mediation.
The bench headed by Chief Justice of India NV Ramana said that it will consider the request for mediation reference and adjourned the hearing for a period of five weeks giving the parties time to continue with their talks for settlement.
"We will see," said the bench when Maran's request for referring the case to Hyderabad Mediation Centre was backed by SpiceJet also.
The top court was hearing SpiceJet's appeal against the November 2, 2020 order of the Delhi high court, asking the airline to deposit around Rs 243 crore as interest in connection with the share transfer dispute with its former promoter. The airline was granted a period of six weeks to make the payment as per the high court's order.
This order was challenged before the Supreme Court where SpiceJet got respite by way of an interim order staying the high court's direction.
Earlier this year, SpiceJet had informed the Supreme Court that the issue relating to payment of principal amount and interest in line with the arbitral award had been settled by the parties. However, talks between the parties were on.
On Tuesday, SpiceJet's counsel apprised the court that two issues "foreign to the present case" were also being discussed by SpiceJet and Maran and needed required time for arriving at a settlement.
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