Tuesday, July 04, 2006

Saharashri jumps into Sahara-Jet battle in court

Sahara Group Chief Subrata Roy on Monday moved the Lucknow court for a stay on the Rs 500 crore paid as advance and the Rs 1500 crore escrow account opened by Jet with ICICI Bank.
Sharashri Roy along with their flagship company Sahara India and others petitioned in the Lucknow district court, which in turn issued notices to Air Sahara, ICICI Bank and Jet Airways.While the earlier petition was filed by Sahara India Commercial Corporation Limited (SICCL) with OP Srivastava as the other plaintiff, the new petition has been moved by Sahara India Limited with Subrata Roy, the group Chairman, JB Roy and Vandana Bhargava, the company secretary as other plaintiffs.
04/07/06 Press Trust of India/Hindustan Times