Saturday, July 01, 2006

Jet-Sahara case adjourned to July 29

Lucknow: A Lucknow district court on Friday adjourned hearing in the Jet Airways-Air Sahara arbitration case to July 29.
Until then, the June 21 and 23 interim orders restraining Jet Airways from operating a Rs. 1,500-crore escrow account with ICICI bank and selling Air Sahara's shares worth Rs. 500 crore would continue, said judge Shiv Charan Sharma.
A Rs. 2,300-crore deal for Jet Airways taking over the other airline failed to come through.
On a supplementary affidavit filed by Sahara, counsel for Jet Airways sought time to submit a rejoinder. The judge fixed July 22 for filing the rejoinder and a reply. Earlier, counsel said a Jet Airways petition in the Supreme Court for transferring the case to the Bombay High Court was likely to be taken up in the next few days.
01/07/06 The Hindu
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