The Board of SpiceJet at its meeting held on 23 July 2024 has approved raising of funds aggregating up to Rs.3000 crore through issue of equity shares or any other eligible securities to qualified institutional buyers by way of qualified institutional placement. Powered by Capital Market - Live News

SpiceJet will hold a meeting of the Board of Directors of the Company on 23 July 2024.Powered by Capital Market - Live News

SpiceJet will hold a meeting of the Board of Directors of the Company on 15 July 2024.Powered by Capital Market - Live News

SpiceJet announced the upgrade of its daily Delhi-Bangkok flight to a wide-body Airbus A340, replacing the narrow-body Boeing 737. This enhancement will increase the seating capacity to 324 passengers per flight on the route, catering to the high demand during the holiday season. The upgraded service will commence on 31 May and continue until 20 June 2024. With visa-free entry for Indians, Bangkok remains an attractive destination for travellers seeking work and leisure opportunities. In addition to this, SpiceJet also operates daily flights to Bangkok from Kolkata and has recently announced its foray into the beautiful island paradise of Phuket. Starting 31 May 2024, the airline will offer daily non-stop flights connecting Delhi and Phuket, with conveniently timed schedules to ensure a hassle-free travel experience. Powered by Capital Market - Live News

SpiceJet will seek a refund of Rs 450 crore out of the Rs 730 crore it has previously paid to former promoter Kalanithi Maran and his firm, KAL Airways, following the Delhi High Court`s order on May 17.The Division Bench of the Delhi High Court ruled on May 17 in favour of SpiceJet and its promoter, Ajay Singh, in the long-standing share transfer case against former promoter Kalanithi Maran and his firm, KAL Airways. This ruling overturns a previous decision by a single-judge bench, positioning SpiceJet to claim a substantial refund based on legal advice. SpiceJet has paid a total of Rs 730 crore, comprising Rs 580 crore in principal along with an additional Rs 150 crore towards interest to Maran and KAL Airways. With the setting aside of the impugned order, SpiceJet is set to receive a refund of Rs 450 crore.The appeal brought forth by SpiceJet and Ajay Singh challenged several critical issues related to the award of refund and the justification of interest in the case. The Division Bench found substantial merit in these challenges, noting that they were not adequately addressed in the previous order dated 31 July 2023.In its ruling, the Division Bench held that the Single Judge had erred in dismissing the Section 34 petitions of Ajay Singh and SpiceJet without due consideration of the claims of patent illegality and the order of refund passed against SpiceJet despite admitted breaches on the part of KAL Airways and Kalanithi Maran.The Court has also noted that interest amounting to penal interest had been charged despite SpiceJet not being in any breach of the Share Purchase Agreement. These facts not being considered by the single judge, the appeals of Ajay Singh and SpiceJet have been allowed, and the impugned judgment dated 31 July 2023, has been set aside.Powered by Capital Market - Live News