New Delhi, Jul 29 (PTI): The Supreme Court on Friday dismissed appeals of budget carrier SpiceJet against a Delhi High Court verdict asking it to deposit Rs 579 crore in connection with a share transfer dispute with its previous owner Kalanithi Maran.

A bench of Justices R F Nariman and S K Kaul said, “We are rejecting appeals.”

The top court upheld the July 3 judgement of the high court that had directed for depositing the money with the court.

The appeals were filed in the apex court by the airline and its co-founder Ajay Singh.

A division bench of the court had asked SpiceJet to deposit the money, saying, "There is nothing worthwhile" in the petitions to show its finances were precarious or that its cash position was so stretched that it could not comply with its single judge order asking it to deposit the amount.

However, the division bench had provided SpiceJet with some relief by allowing it to deposit the amount in two parts.

It had said that part of the amount could be secured by a cash deposit of Rs 250 crore and the balance by a bank guarantee of Rs 329 crore.

SpiceJet and Singh had challenged before the division bench last July's interim order passed by the judge alleging that the court did not have the jurisdiction.