In India, a dispute has been going on for a long time about who is in charge of the budget airline Spicejet. In October, the High Court ordered the airline to pay around $ 33 million to the former majority owner, Kalanithi Maran, or a company associated with him. The Supreme Court has now overturned this.

The trial was held as a video conference last week. CH-Aviation.com reports that the judges have decided to temporarily suspend the proceedings in order to be able to provide temporary relief to the ailing company. The court also made it clear that this only applies “until further court orders”. The proceedings could be resumed at a later date.

A dispute has been simmering for a long time between the former majority owner Maran, who controlled the company between June 2010 and January 2015, and Ajay Singh, who currently holds the majority. In September, the High Court ordered Spicejet to pay the aforementioned amount for warrants, preferred shares and interest within six weeks. It was found that this was agreed in 2015, but was not paid out.

The judgment was disregarded by Spicejet, which is why Maran's lawyers requested that Singh's share be confiscated and that he regain control of the aviation company, which was ailing due to the corona pandemic. The counterparty currently holds 59,13 percent of the low-cost airline. Spicejet appealed against this motion to the Supreme Court. This partially approved, because the argument that Spicejet is badly hit due to the corona pandemic and that paying the sum could possibly mean the end, apparently convinced the highest judges. The proceedings did not end with the fact that the Supreme Court overturned Maran's actions only temporarily. The court will resume the actual proceedings at a later date. Spicejet should use the time until then to stabilize.