Mumbai/Lucknow: With filing of cases one after another the battle between jet Airways and Air Sahara continued to intensify.
Jet Airways on Friday filed a case against Sahara Group chief Subroto Roy for the recovery of Rs 500 crore advance paid to Air Sahara when the Rs 2,300 crore acquisition was struck.
The case was filed in the Bombay High Court against Roy on the grounds that he had personally guaranteed refund of the advance in case the deal fell through.
Jet has already filed an arbitration suit in the High Court in this matter.
In January this year, Jet had signed an agreement with Air Sahara to acquire the latter for Rs 2,300 crore.
However, Jet pulled out of the deal this month alleging that Sahara had not fulfilled the conditions in the agreement before the deal could go through.
Lucknow court defers hearing on Jet-Sahara
A district court on Friday deferred till July 29, the hearing on Air Sahara's petition regarding its failed takeover by Jet Airways and extended the interim order on freezing the escrow account opened for the purpose.
District and Sessions Judge Shiv Charan Sharma posted the matter for hearing on July 29 after the counsels for both parties submitted that a transfer petition had been filed at the Supreme Court.
The court also extended its interim order of freezing the escrow account opened for the proposed acquisition till the next hearing.
Comments
0 comment