Relief to SpiceJet as SC Stays Order demanding Deposition of Rs. 243 Crores

Business Nov 09, 2020 Twinkle Agarwal ( Editor: Ekta Joshi ) 6 Shares

Also Read - Devanahalli court in Karnatka comes to the rescue of Pilot-YouTuber cum Whistleblower Gaurav Taneja in his fight against AirAsia

In a share transfer dispute, the High Court has asked SpiceJet and its promoter, Ajay Singh, to deposit around Rs 243 crores as interest payable on Rs 579 crores.

Also Read - Share Prices of Airlines Rise as Government Raises Domestic Flight Capacity to 70%

Aggrieved with this order of the High Court, SpiceJet appealed to the apex court for setting aside such order of payment.

The Supreme Court comprising of Justices A S Bopanna and V Ramasubramanium and headed by Chief Justice of India Sharad Arvind Bobde passed an interim order and stayed the order of Delhi High Court on November 9, 2020 and gave relief to SpiceJet in the matter.

Devanahalli court in Karnatka comes to the rescue of Pilot-YouTuber cum Whistleblower Gaurav Taneja in his fight against AirAsia

Judiciary Dec 30, 2020 Gautami Chakravarty ( Editor: Ekta Joshi ) 7 Shares

A Devanahalli court in Karnatka in, Air Asia Ltd v. Sri. Gaurav Taneja dismissed a petition filed by AirAsia against Whistleblower Gaurav Taneja for defaming the company. The court observed that material facts were kept hidden by AirAsia and that Gaurav Taneja acted as a responsible pilot to take up the safety issues(called defamation by the company) on social media.FactsA famous Youtuber and Pilot Gaurav Taneja recently turned a whistleblower and exposed the safety lapses on the...

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Share Prices of Airlines Rise as Government Raises Domestic Flight Capacity to 70%

Business Nov 19, 2020 Neha Bharti ( Editor: Ekta Joshi ) 5 Shares

On November 12, 2020, the Ministry of Civil Aviation allowed domestic flights to operate with up to 70% capacity on the back of increasing demand during the festival season which helps in gaining airline stocks. The share price of InterGlobe Aviation hit a 52-week high rising up to 1.5% to Rs 1,644.90 per share on the National Stock Exchange while Spice Jet's share price increase as much as 5.5 % to Rs 57.10 apiece on the Bombay Stock Exchange. Even IndiGo shares were trading higher...

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