Airline company SpiceJet has said that the issuance of warrants was to be made subject to regulatory approvals and could not be issued due to non-receipt of the same.
The company said that a necessary board resolution will be passed authorising the joint representatives to represent the applications before BSE/ SEBI.
The move comes after Kalanithi Maran, SpiceJet &Anr and KAL Airways Private Limited agreed to jointly approach both BSE and SEBI .
The company further clarified that Spicejet was already pursuing this matter before the BSE/ SEBI jointly with the representative of Mr. Kalanithi Maran and KAL Airways and the matter is pending consideration with SEBI.