HC order on Jet-Sahara case likely on 2 July
22 Jun 2009
The Bombay High Court has deferred a ruling in the dispute over the takeover of Sahara Airlines by Jet Airways and asked the two to mutually settle their dispute before 2 July when it would pass an order.
A bench of Justice Dhananjay Chandrachud deferred the ruling after Jet Airways sought an extension of time till 9 July. Both the parties, however, informed the court that they were too eager to settle the dispute.
The court had earlier directed both Jet and Sahara to try an across-the-table settlement of the dispute.
Jet and Sahara had been fighting in the court since Jet Airways acquired Sahara Airlines in 2007.
Sahara India Commercial Corporation filed a chamber summons in the Bombay high court, on Thursday, demanding Rs2,000 crore as purchase price from Jet Airways against the earlier agreed price of Rs1,450 crore.
Sahara, now a Jet Airways subsidiary called JetLite, said Jet had defaulted on payment of installments and hence the demand for extra money.