Friday, June 30, 2006

Sahara deal: Jet seeks stay on interim court order on escrow account

Mumbai: Jet Airways has sought a stay on the interim orders of a Lucknow court, which put a freeze on the escrow account opened by Jet, besides preventing sale of Sahara's shares pledged, in the legal battle between Jet and Air Sahara following the collapse of their merger deal, Press Trust of India reported.
The report said that Jet has also sought the transfer of the cases initiated by Air Sahara in the Lucknow court to the Bombay High Court.
30/06/06 XFN-ASIA/Forbes