Sahara says no compromise with Jet

Mumbai The Sahara group on Thursday ruled out an out-of-the-court settlement with Jet Airways over their dispute on the multi-crore Sahara airlines take over deal even as Bombay High Court granted two months time to both the parties for filing affidavits.
Justice D Y Chandrachud adjourned the case till January 19 after Jet and Sahara India Commercial Corporation Ltd pleaded for time to file additional affidavits.
Sahara's lawyer Pradeep Sancheti said outside the court that at the moment they were not looking at an out-of-the-court settlement and that the airline was expecting a ruling from the court after the January 19 hearing.
The Bombay High Court had earlier suggested to both the litigants to settle their dispute amicably. On July 15, Jet and Sahara informed the court that efforts to arrive at an out-of-the-court had failed.
Sahara, in March, had filed a petition claiming that the Naresh Goyal-owned airline had defaulted on the installment amount due as payment for acquisition of Sahara Airlines, now JetLite. Hence, it was liable to pay original deal amount of Rs 2,000 crore and not re-negotiated amount of Rs 1,450 crore.
19/11/09 Express India

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Categories: Jet Airways Nov 2009