Jet's takeover of Sahara under cloud
With just two days left for expiry of escrow account, the much-touted Rs 2,300 crore deal to acquire Air Sahara by Jet Airways has come under pressure for want of neccessary security clearances.
By PTI |
NEW DELHI: With just two days left for expiry of escrow account, the much-touted Rs 2,300 crore deal to acquire Air Sahara by Jet Airways has come under pressure for want of neccessary security clearances.
The escrow account deadline was extended by three months in March and Jet Airways had paid a further advance of Rs 500 crore to keep the deal on.
Rebutting speculations that the deal may fall through, senior Jet officials said: " We still have two more days and the two sides could look for all the available options."
When contacted, Saroj Dutta, executive director Air Sahara told the media in Mumbai: "the deal is on and if there are problems we would look into these."
Sources in the Sahara Group, meanwhile, indicated that one of the options could be a further extension of the deadline of the escrow account.
Rumours about the deal coming under pressure intensified after reports that the government had not cleared the name of Jet Chief Naresh Goyal for the board of Sahara.
Jet Airways has been virtually operating Sahara Airlines since April.
The escrow account deadline was extended by three months in March and Jet Airways had paid a further advance of Rs 500 crore to keep the deal on.
Rebutting speculations that the deal may fall through, senior Jet officials said: " We still have two more days and the two sides could look for all the available options."
When contacted, Saroj Dutta, executive director Air Sahara told the media in Mumbai: "the deal is on and if there are problems we would look into these."
Sources in the Sahara Group, meanwhile, indicated that one of the options could be a further extension of the deadline of the escrow account.
Rumours about the deal coming under pressure intensified after reports that the government had not cleared the name of Jet Chief Naresh Goyal for the board of Sahara.
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Jet Airways has been virtually operating Sahara Airlines since April.
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