SC says Bombay HC will hear all Jet-Sahara cases

NEW DELHI: The Supreme Court on Monday directed that all disputes arising out of the failed Rs 2,300-crore Jet-Sahara deal will be heard by the Bombay High Court. However, the apex court did not vacate the stay on the escrow account and the Rs 500 crore advance paid by Jet for the purpose.

A bench headed by Chief Justice YK Sabharwal asked the Bombay High Court to expeditiously decide the issue of jurisdiction. The HC said the injunction granted by the Lucknow Court will continue till further orders.

While Sahara has asked for Lucknow as the jurisdiction of the matter, Jet says that it should be Mumbai. However, the bench stated that it would be open to respondent Sahara to urge before the Bombay High Court that it lacks inherent jurisdiction.

On the collapse of the deal, Jet and Sahara had approached Bombay High Court and Lucknow Court, respectively, seeking to restrain each other from withdrawing money deposited in the escrow account.