The court also barred Jet from selling Air Sahara's shares - which were pledged with Jet - to recover advance payment of Rs 500 crore.
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Deal with Jet still ‘subsisting’
Lucknow: Air Sahara on Friday claimed
before a Court here that the Rs 2,300-crore
take-over deal with Jet Airways was
“still subsisting” despite the expiry
of deadline of the share-purchase
agreement on June 21.Senior Advocate
Dushyant Dave appearing for the airline
said after the agreement was signed,
everything was handed over to Jet
and now the fate of 4,500 Sahara employees
were at stake, besides the money involved
in the deal.
24/06/06 PTI/Mumbai Mirror
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During three hours of arguments, senior advocates representing the two airlines argued over which court has the jurisdiction to hear the case.
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Jet-Sahara case adjourned till June 30
Lucknow: The arguments of Jet Airways and Air
Sahara on the failed acquisition deal remained
inconclusive today at the District Court, which
fixed June 30 as the next date of hearing. Directing
that the interim order freezing the escrow account
will continue till further orders, District and Sessions
Judge Shiv Charan Sharma said that if needed,
the matter could be heard on July 1 also.
23/06/06 The Hindu
__________________________________
On Thursday, its chief Naresh Goyal had been advised by a couple of well-wishers to try for an amicable settlement in place of bitter litigation.Jet-Sahara case adjourned till June 30
Lucknow: The arguments of Jet Airways and Air
Sahara on the failed acquisition deal remained
inconclusive today at the District Court, which
fixed June 30 as the next date of hearing. Directing
that the interim order freezing the escrow account
will continue till further orders, District and Sessions
Judge Shiv Charan Sharma said that if needed,
the matter could be heard on July 1 also.
23/06/06 The Hindu
__________________________________
Goyal, however, turned down the advice after consultations with his lawyers in London. "You have got an excellent case,"Goyal's lawyers are learnt to have told him.
24/06/06 Rakesh Mohan Chaturvedi/Times of India To Read the News in full at Source, Click the Headline
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