Airlines Deals

Air Sahara on Wednesday filed a caveat in the Supreme Court with a view to prevent Jet Airways from getting an ex-parte order on its transfer petition, which is likely to be filed on Wednesday.

Jet Airways, which had on Tuesday said it would file a petition seeking transfer of all cases pending in Lucknow court and the Bombay High Court, is likely to do so later Wednesday.

The caveat, filed on behalf of Sahara India Commercial Corporation, urged the apex court that nothing should be done in the matter without any notice to it.

Jet Airways had on Tuesday described the collapse of its Rs 2,300 crore deal to acquire Air Sahara as “unfortunate” and blamed “vested interests” for making inaccurate statements.

It had also said that its decision not to salvage the pact was based purely on ‘commercial considerations’ and that it was moving the Supreme Court for transfer of litigation in different courts.

“For commercial reasons, and in the interest of Jet Airways, and its family of shareholders, the management decided not to extend the time”, the airline had said.

Alleging that Jet had terminated the contract, Sahara had moved the District Court in Lucknow on June 21 and sought an interim stay on operation of the escrow account and followed it up with another injunction on the sale of share pledged by it to Jet for an advance of Rs 500 crore.