New Delhi, May 4 -- The Delhi High Court has dismissed a review petition filed by SpiceJet and its Managing Director, Ajay Singh, against an order directing the airline to deposit Rs. 144 crore in an arbitration dispute with Kalanithi Maran and Kal Airways Pvt Ltd. The Court also imposed costs of Rs 50,000.

The Bench of Justice Subramonium Prasad declined SpiceJet's request to substitute the monetary deposit with an immovable property in Gurugram owned by Ajay Singh.

During the hearing, senior advocates Mukul Rohatgi and Amit Sibal, appearing for SpiceJet, submitted that the airline is facing financial constraints and that depositing Rs.144 crore would cause difficulty.

They proposed that the Gurugram property, stated to be free from e...