SpiceJet says Sun Group's claims of damages are unfounded

economictimes.indiatimes.com:

SpiceJet and its promoter Ajay Singh has refuted the claims made by KAL Airways and Kalanithi Maran regarding seeking damages of Rs.1323 crore.
«These assertions are not only legally untenable but also a regurgitation of previously rejected claims by the Arbitral Tribunal and then the Delhi High Court, » the airline said.
Sun Group and its chief Kalanithi Maran on Monday said they will seek over Rs 1,323 crore in damages from SpiceJet and its chief Ajay Singh. This will be in addition to challenging the recent Delhi High Court order, which was in the airline's favour.

Following this, shares of SpiceJet fell by 1.24% during the early morning hours of trading.
The ownership dispute between SpiceJet and Maran dates back to January 2015 when KAL Airways offered a 58.46% stake in SpiceJet to Singh.
On 17 May, a division bench of the Delhi High Court had set aside its single judge order upholding the arbitral award in favour of Kalanithi Maran and against low-cost airline SpiceJet, bringing in relief for the cash-strapped carrier.

Following that order, SpiceJet last week said that it will seek a refund of Rs 450 Crores out of the Rs 730 Crores it has previously paid to former promoter and Sun Group chairman Kalanithi Maran and his firm.