Kalanithi Maran has moved the Delhi High Court seeking status quo on the shareholding of SpiceJet promoter Ajay Singh. This comes after SpiceJet failed to pay Rs 243 crore to Maran in accordance with the court's order last month.
A status quo on shareholding might hurt the airline's IPO plans for its cargo unit. On the other hand, SpiceJet has moved the Supreme Court challenging the Delhi High Court's order that directed it to pay the amount to Maran.
Ashmit Kumar gets the latest developments on implications of the case as the tussle has now reached Supreme Court.To know more, watch the videos.