Jet moves SC for transfer of Lucknow case

New Delhi, June 28 (UNI) Jet Airways today moved the Supreme Court seeking transfer of Arbitration petition filed by Sahara Airlines in Lucknow court to Bombay high court involving failed deal worth Rs.

2300 crores under which Jet Airways was due to take over Sahara Airways, on the grounds that Sahara Airlines petition was not maintainable as Jet Airways petition pending in Bombay high court was prior in time.

Transfer petition filed by Gargat and Co., a lawyers' firm also contends that Sahara Airlines petition is also liable to be dismissed as Escrow agents who are not a party to the failed agreement have also been impleaded as party in the petition pending in the court of District judge, Lucknow.

Jet Airways have also pleaded that it is in the interest of justice to transfer the petition from Lucknow court to Bombay high court where the Arbitration proceedings on the same issue are already pending and it will also help in avoiding multiple litigation.

Jet Airways have also prayed for interim stay against the proceedings in Lucknow court till the final disposal of their transfer petition in this court.

Earlier Sahara India Commercial Corporation Ltd. had filed a caveat in the apex court yesterday praying that no interim or any other relief should be granted to Jet Airways without prior notice to the caveator.

Rs. 2000 crores is lying with M/s Escrow Agents and both the parties are trying to prevent their rivals from getting the money released.

The case may be mentioned for urgent hearing before the Supreme Court tomorrow as the case is fixed for hearing before the Lucknow court on June 30.

Jet Airways may also pray to the apex court to freeze the Escrow's ICICI Bank account in order to safeguard the money lying in the account.

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