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NEW
DELHI: The Supreme Court on Monday directed that all disputes arising out of the
collapsed deal for acquisition of Sahara Airlines by Jet Airways for Rs 2,300
crore, will be heard by the Bombay High Court but did not vacate the stay on the
escrow account and advance paid by Jet for the
purpose.
The order was passed
by a Bench headed by Chief Justice Y K Sabharwal, which also asked the Bombay
High Court to expeditiously decide the issue of
jurisdiction.
The Court said
the injunction granted by the Lucknow Court will continue till further
orders.
The court said with
respect to the various clauses of the escrow, pledge and guarantee agreements it
was of the view that the ends of justice would be met at one court, namely the
Bombay High Court.
However, the
Bench said it would be subject to the High Court having inherent jurisdiction to
entertain the dispute.
The
court said on this aspect it was expecting no
opinion.
The Bench further said
that it will be open to respondent Sahara to urge before the Bombay High Court
that it lacks inherent
jurisdiction.
If it was found
that the Bombay High Court has inherent jurisdiction then the petition filed by
Jet Airways before the Lucknow court would be heard in Bombay.
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