Jet Airways will file
a petition before the Supreme Court seeking transfer of
the cases relating to its failed takeover of Air Sahara
pending with the Bombay High Court and the Lucknow district
court, the airline said on Tuesday.
transfer petition is also being filed by Jet Airways before
the Supreme Court," the airline said in a statement.
a statement clarifying its stand on the failed deal, the
airline said: "Any comments on the merits of the
controversies between parties would therefore be inappropriate
immediate cause of the conflict was Air Sahara''s submission
before the Lucknow district court that the deal was still
subsisting, while Jet officials maintained that it had
said that for commercial reasons and in the interest of
Jet Airways and its family of shareholders the management
decided not to extend the time after the expiry of the
share purchase agreement on June 21. Sahara, however,
went to court saying Jet called off the deal and demanded
freezing of the escrow account.
statement comes amidst reports that Jet Airways is trying
an out-of-court settlement with Sahara Airlines. Reports
also said that Jet chairman Naresh Goyal has convened
an urgent meeting the carrier''s top management at his
London residence to discuss the matter.
newspaper cited sources as saying that Jet and Sahara
have been advised that a protracted legal battle will
not benefit either side.