SpiceJet shares end nearly 5 pc lower after apex court directs airline to pay Rs 270 cr to Kalanithi Maran

New Delhi, Feb 14 (PTI) Shares of SpiceJet ended nearly 5 per cent lower on Tuesday after the Supreme Court directed the airline to encash bank guarantee and pay Rs 270 crore to its former promoter Kalanithi Maran.

The stock dipped 4.85 per cent to settle at Rs 33.35 apiece on the BSE.

On the NSE, it fell 4.71 per cent to close at Rs 33.40 per share.

During the day, it declined 10 per cent and touched its 52-week low of Rs 33.20 on both the exchanges.

In volume terms, 7.15 lakh shares of the firm were traded on the BSE and over 33 lakh shares on the NSE during the day.

The 30-share BSE Sensex benchmark ended at 600.42 points or 0.99 per cent higher at 61,032.26 on Tuesday.

On Monday, the Supreme Court of India said the bank guarantee of Rs 270 crore of SpiceJet must be encashed immediately and the money be paid to media baron Kalanithi Maran and his Kal Airways towards dues from the arbitral award of Rs 578 crore.

It also directed the airline to pay within three months Rs 75 crore to Maran and Kal Airways towards the interest component on the arbitral award.

This will ensure that the principal sum due in the award is paid almost in entirety, it added.