The Bombay High Court on Thursday said it has the jurisdiction to adjudicate on the dispute between Jet Airways and Air Sahara over a failed takeover deal and would hear all four petitions pending in this regard.
"The Court holds the jurisdiction to hear all four cases," Justice DK Deshmukh said and adjourned the hearing for Friday.
Earlier, Air Sahara counsel Rohit Kapadia argued that the High Court did not have the authority to hear the case as the share purchase agreement for the deal was signed outside Mumbai.
However, Jet Airways' counsel Harish Salve and Janak Dwarkadas submitted that since the agreements for the deal were signed and the escrow account was set up in Mumbai, the High Court indeed had the jurisdiction to hear the matter.
The Supreme Court had in August transferred two petitions filed by Sahara in a Lucknow court to the Bombay High Court for hearing. Jet had already filed two separate petitions before the High Court.
"With respect to the various clause of the Escrow, Pledge and Guarantee agreement, we are of the view that ends of justice will be met at one court, namely Bombay High Court.
"This is subject to Bombay High Court having inherent jurisdiction to entertain the disputes," a Supreme Court Bench had said.