Supreme Court not inclined to rule on Bombay High Court's order on Sahara

The Supreme Court on Monday said it is not inclined to decide the c that held that Subrato Roy Sahara and others are not entitled to ₹500 crore in terms of the April 2007 consent award and Jet Airways (India) is also not liable to 18% interest on the payment after acquiring Air Sahara (now Jetlite).

However, it kept the two questions open so as to protect the interests of Sahara, saying he can ask for revival of its appeals on these two issues, if need arises.

A bench led by Justice Sanjiv Khanna held that "Sahara was not a secured creditor of Jet Airways and at best would be an operational or other creditor..."


The National Company Law Tribunal had approved the Jalan-Kalrock Consortium's (JKC) resolution plan in June 2021 for takeover of debt-laden Jet Airways. The tribunal had treated Sahara as other creditors for the purpose of the bankruptcy code and dismissed his application seeking secured creditor's status.

The SC said that a mere undertaking given by Jet to the HC in May 2011 that it will not alienate or dispose of its assets and also would develop 1.5 lakh square feet area of land at Bandra-Kurla Complex would not amount to creating a charge on its assets.