Friday, August 11, 2006

Goyal, Roy in secret talks to settle row

Mumbai: Jet Airways chairman Naresh Goyal has held a series of meetings with Air Sahara chief Subroto Roy, who has been staying at the old Centaur Hotel near Mumbai’s Santa Cruz airport for the last few days. HDFC chairman Deepak Parekh is mediating the talks.
The two sides are believed to have agreed to Jet paying around Rs 175 crore to Air Sahara for an out-of-court settlement of their various law suits in a bid to retrieve its Rs 1,500 crore deposited in the escrow account. The account was created for the $500 million merger deal between Jet Airways and Air Sahara. Roy’s private Boeing is also parked at the airport as he, and his team of advisors and lawyers, are engaged in secret parleys with Goyal and his team.
11/08/06 Sagar Malviya/Financial Express
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