New Delhi [India], May 4 : The Delhi High Court has dismissed a review petition filed by SpiceJet and its Managing Director, Ajay Singh, against an order directing the airline to deposit Rs. 144 crore in an arbitration dispute with Kalanithi Maran and Kal Airways Pvt Ltd. The Court also imposed costs of Rs 50,000.
The Bench of Justice Subramonium Prasad declined SpiceJet's request to substitute the monetary deposit with an immovable property in Gurugram owned by Ajay Singh.
During the hearing, senior advocates Mukul Rohatgi and Amit Sibal, appearing for SpiceJet, submitted that the airline is facing financial constraints and that depositing ₹144 crore would cause difficulty.
They proposed that the Gurugram property, stated to be free from encumbrances, could be offered instead.
They also argued that the earlier order contained errors, including observations that similar grounds had been raised before the Supreme Court of India and that there was no material to show the property was unencumbered.
Senior advocate Jayant Mehta, appearing for Kal Airways and Kalanithi Maran, opposed the plea. He submitted that the issue of financial difficulty had already been raised before the Supreme Court, which dismissed the challenge and imposed costs. He also stated that the review petition sought to revisit issues already decided.
The dispute arises from an arbitration award in favour of Kal Airways and Kalanithi Maran. Earlier, the Supreme Court had upheld the Delhi High Court's direction to deposit ₹144 crore. A subsequent application by SpiceJet to substitute the deposit with property was rejected on March 18, 2026, leading to the present review petition.