Sahara files objections in Jet-Sahara case

Lucknow, June 28 (UNI) Sahara today filed its set of objections in the Jet-Sahara case in a local court here.

The objections were filed in the court of officating sessions judge K K Sharma.

On June 23, district and sessions judge Shivcharan Sharma had posted the case for hearing to June 30 and July 1 and asked Sahara to reply by today on the objection raised by Jet on the petition by Sahara India Commercial Corporation Limited under section 9 of the Arbitration and Conciliation Act, 1996.

The court had also frozen the escrow account of Jet Airways, reportedly holding Rs 1,500 crore at ICICI Bank, till July 1.

Sahara was represented by senior Supreme Court lawyer Dushyant Dave, while Abhishek Manu Singhvi aruged on behalf of Jet.

Mr Singhvi had contended since a writ had already been filed in Mumbai High Court, the case could be heard in Mumbai only.

He aruged the case was sub-judice in Mumbai High Court and the Lucknow district court was not competent to hear the case under CPC section 42.

However, Mr Dave maintained since the agreement between the two sides was signed at Lucknow and Sahara was headquartered in the Uttar Pradesh capital, the Lucknow court was competent to hear the case.

Earlier on June 21, Sahara had filed a petition before the district court praying the escrow account be frozen, since the deal had failed to take off.

Under the Rs 2,300 crore Jet-Sahara agreement, Sahara was to merge with Jet Airways. Jet had already paid a guarantee of Rs 100 crore to Sahara.

Meanwhile, Jet today moved the Supreme Court seeking transfer of arbitration petition pending in the Lucknow district court to Bombay High Court on the grounds that Lucknow court had no jurisdiction to adjudicate the matter.

UNI XC/VS VD KP1902