Encashment of escrow account in Jet-Sahara deal stayed

Lucknow, June 21 (UNI) In an apparent relief to Air Sahara, a local court here today stayed the encashment of escrow account in Jet-Sahara deal.

Fixing June 23 as the next date of hearing, district judge Shiv Charan Verma passed the order on a petition filed by Sahara under the provisions of the Arbitration Act.

Sahara had moved the court in reaction to Jet's petition in Bombay High Court earlier in the day.

Counsel for the defendents Rajesh Tiwari told UNI his preliminary objections and maintainability of the petition would come up for hearing on the next date.

UNI SB VS VD DS1559