The case relates to a share transfer dispute between SpiceJet’s chairman and managing director Ajay Singh and Maran and his KAL Airways. In February 2015, Maran and KAL Airways transferred their entire 58.46% stake in the airline to Singh. In 2017, Maran and KAL Airways moved HC demanding that 180 million warrants redeemable as equity shares be transferred to them.
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