SpiceJet ownership involved in Public Interest Litigation

India Union Textile Minister Dayanidhi Maran has reportedly had a Public Interest Litigation (PIL) filed against him after he allegedly benefitted from the Aircel stake sale to Maxis Communications (Bloomberg/India InfoLine News Service, 02-Jun-2011). SpiceJet Ltd is owned and operated by Kalanithi Maran, who is a brother of Dayanidhi Maran. The Maran brothers also own and operate Sun TV Network Ltd. Shares in the carrier slumped 16% to INR34.5, marking the largest decline in almost five years.