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Tuesday, Aug 20, 2019

Court notifies Govt on Jet-Sahara merger documents

Jet plans to acquire Air Sahara fails due to absence of security clearance.

business Updated: Apr 05, 2007 21:09 IST


The Bombay High Court on Thursday issued a notice to the government, on a petition filed by Jet Airways asking for documents related to its failed takeover bid of rival Air Sahara.

Jet, whose plans to acquire Air Sahara failed due to absence of security clearance, had on Monday filed the petition seeking the documents and notes made by Director General of Civil Aviation and Civil Aviation Ministry on the merger. Jet's application was filed under Section 27 of the Arbitration Act.

The single judge bench of Justice Anoop V Mehta asked the government to present its views on April 11.

According to Janak Dwarkadas, counsel appearing for Jet, these documents are related to the security clearance and internal notes made by the authorities during the merger.

A two member arbitration tribunal, which is hearing the two airlines, had on March 28 granted permission to Jet Airways to file application seeking documents before the court.

The tribunal is hearing Jet's plea seeking refund of Rs 1,500 crore it had deposited in an escrow account in the run up to the merger.

The arbitration tribunal will resume hearing arguments on April 9, when final hearing is scheduled to be held non-stop for two weeks.

First Published: Apr 05, 2007 21:03 IST

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