Tuesday, August 29, 2006

On Jet plea, case transferred to Bombay High Court

New Delhi: The Supreme Court on Monday directed that all proceedings pending before a Lucknow district court on a petition filed by Air Sahara in its dispute with Jet Airways be transferred to the Bombay High Court. Two petitions filed by Jet Airways are already pending before the High Court. The dispute arose after an accord for Jet takeover of Sahara fell through.
A Bench consisting of Chief Justice Y. K. Sabharwal and Justice C. K. Thakker passed the order on a plea by Jet Airways and others seeking transfer of the arbitration petition filed by Sahara India Commercial Corporation.
The Bench, however, made it clear that the Lucknow court's interim order restraining Jet Airways from demanding and/or receiving Rs. 1,500 crore, deposited in an escrow account with ICICI Bank, and injunction restraining the bank from releasing the money would continue until further orders.
29/08/06 The Hindu
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