Lucknow: The arbitration petition filed by Sahara was to be heard in the Lucknow District court on Friday but the Lucknow distrcit court has adjourned the hearing till July 29.
This on the basis of Jet Airways' plea that since the tranfer petition is with the Supreme Court, it would lead to duplication.
Sahara had filed arbitration the petition after their proposed merger with Jet - touted as the biggest aviation deal inIndia - fell through.
Earlier, Jet Airways had contended that the Lucknow Sessions Court doesn't have any jurisdiction over the matter and hence the case should be transferred to the Bombay High Court.
Meanwhile, the court has extended the stay on the joint escrow account created for the merger till June 30.
Sahara has also filed a caveat with the Supreme Court. A caveat is a formal notice filed by a party with the court or an officer, requesting the postponement of a proceeding until the filer is heard.
Sahara has requested SC that in the transfer petition, likely to be filed by Jet Airways, no relief should be granted to Jet without hearing Sahara first.
The caveat was filed by advocate E C Agrawala on behalf of Air Sahara on Tuesday against transfer of arbitration petition pending before the Lucknow district judge that had been filed by Jet Airways.
Sahara filed the caveat after the media reported that Jet Airways had stated that the decision not to salvage the $500 million merger deal was purely on 'commercial considerations' and that it was moving the Supreme Court for transfer of litigation in different courts - Lucknow and Bombay High Court.
Sahara has also threatened to sue Jet Airways, seeking damages to the tune of Rs 2,000 crore from the airline for illegally backing out from the deal.
Comments
0 comment