Jet Airways-Sahara dispute: Sahara files SLP in Supreme Court

Mumbai: Jet Airways and the Subrata Roy-promoted Sahara group will take their battle to the Supreme Court after the Bombay High Court on Monday refused to intervene in the two-year-old dispute triggered by Jet's purchase of the Sahara group's airline business.
The division bench of Chief Justice Mohit Shah and Justice GS Godbole dismissed the appeal filed by Sahara India where it claimed that Jet Airways is liable to pay an interest of 18% on payment due for the buyout of Air Sahara (now Jetlite). The court also dismissed an appeal by Jet against the court's May order asking Jet to pay 478 crore to Sahara as dues for the buyout.
The court said that it has no jurisdiction over the issue and asked the parties to sort it out in the Supreme Court. The May order in favour of Sahara will stand till the apex court decides otherwise.
"We will fight it out in the Supreme Court," Jet Airways' chairman Naresh Goyal told ET after the judgement.
Sahara India has already filed a special leave petition (SLP) in the Supreme Court anticipating the outcome, said people familiar with the development.
The order is likely to prolong Jet's troubles as the airline was hoping to settle the issue once and for all quickly.
18/10/11 Economic Times

To Read the News in full at Source, Click the Headline

Categories: Jet Airways Oct 2011