Kalanithi Maran

Sun TV, part of the Sun Group, is led by Indian billionaire media proprietor Kalanithi Maran — who is closely related to DMK leaders. Maran is the grandnephew of DMK president M Karunanidhi and nephew of the current chief minister MK Stalin.

The ruling leaves SpiceJet with an unchanged cash deposit obligation despite its claims of severe liquidity stress, closing another courtroom avenue in a decade-long legal battle over a distressed 2015 stake transfer.

SpiceJet said its operations and cash flows have been severely impacted, particularly due to restrictions on flights to the Gulf.

The review plea assumes significance as SpiceJet is facing a severe liquidity crunch due to flight disruptions linked to the West Asia war.

Delhi High Court grants SpiceJet a final four weeks to deposit ₹144.5 crore in its dispute with Kalanithi Maran, rejecting its plea to furnish property as security.

The budget airline, hit by losses and Gulf flight cancellations, sought to offer immovable property as security instead of a cash deposit in its long-running arbitration dispute.

SpiceJet shares surged 6% after the Supreme Court dismissed Kalanithi Maran's damages claim, providing legal relief amid financial struggles. The court upheld the Delhi High Court's ruling, concluding a long-standing dispute over a failed share transfer deal from 2015.

Sun TV said in a statement on Friday that the claims made in recent articles “are incorrect, misleading, speculating, defamatory and not supported by facts or law.”

Former Union Minister Dayanidhi Maran has sent a legal notice to his brother Kalanithi, claiming he unlawfully transferred shares of Sun TV Group worth thousands of crores.