Court Asks SpiceJet to Grant Warrants to Maran, Shares Tank

SpiceJet shares plunged over 10 per cent today following the Delhi High Court's order on Friday asking the budget carrier to pass a board resolution for issuing stock warrants to the airline's former owner Sun group Managing Director Kalanithi Maran and his KAL Airways. The stock warrants are part of the sale purchase agreement of 2015, which led to change in ownership of SpiceJet. Under the agreement, Mr Maran and his KAL Airways t...