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Bombay high court adjourns Jet-Sahara case to 12 June

Bombay high court adjourns Jet-Sahara case to 12 June
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First Published: Fri, May 08 2009. 09 03 PM IST
Updated: Fri, May 08 2009. 09 03 PM IST
Mumbai: The Bombay high court on Friday adjourned an ongoing case between Jet Airways (India) Ltd and Sahara India Commercial Corp. Ltd, or SCCL to 12 June. It also requested both companies to settle their dispute through out of court discussions before it returns from summer break. The court was expected to pronounce the order on Friday, but it was extended when justice D.Y. Chandrachud asked for clarifications from both the parties.
On 26 March, SICCL had filed an application with the court claiming that Jet Airways had defaulted on payments towards the purchase of Air Sahara, and had sought permission to seize Jet’s assets. SCCL was demanding the original price of Rs2,000 crore for the airline it had sold to Jet, instead of the renegotiated price of Rs1,450 crore. Jet Airways bought Sahara Airline Ltd, which operated Air Sahara, in April 2007 and later rebranded it JetLite. Jet said it had paid SICCL money in instalments after making deductions for liabilities from before the completion of the acquisition.
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First Published: Fri, May 08 2009. 09 03 PM IST