Jet Airways updates on hearing in Sahara dispute

Jet Airways India Ltd has announced that at the hearings held in Mumbai on January 09, 2007, the Company did not press for the release of the advance payment of Rs 500 crores, and reserved its rights to do so in the suit in the Bombay High Court, and Sahara accepted the position that the pledge of the shares continues.

As to the Bank Guarantee, the Company agreed that the matter be deferred until April 2007 when the main case will be heard, reserving the right to revive the applications if the case is delayed.

The Tribunal also discussed various procedural matters so as to pave the way for a final disposal of the case in April.

Source : Equity Bulls

Keywords