The Supreme Court on Wednesday dismissed appeals by KAL Airways and former SpiceJet promoter Kalanithi Maran seeking over Rs 1,300 crore in damages, SpiceJet announced in a regulatory filing.

The airline stated that the claims, previously rejected by the Arbitral Tribunal and Delhi High Court, were finally dismissed, leaving only SpiceJet’s appeal on interest and premature refund of Cumulative Redeemable Preference Shares (CRPS) pending.

The dispute stems from 2015 when Ajay Singh reacquired SpiceJet from Maran after the airline’s financial struggles. Maran and KAL Airways claimed to have invested Rs 679 crore for warrants and preference shares, but alleged in a 2017 lawsuit that SpiceJet neither issued the shares nor returned the funds.

The long-running share transfer dispute has now seen a significant ruling in SpiceJet’s favor. On Thursday, SpiceJet’s shares fell 1.84% to Rs 39.55 on the BSE.

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