The Hindu Business Line : Court puts off Jet-Sahara case till Jan

The Bombay High Court granted two months’ time to Jet Airways and Sahara India Commercial Corporation Ltd (SICCL), on Thursday, for filing affidavits for the ongoing tax dispute between the two parties since March 2009.

Both the parties sought time to file additional affidavits following which the Court deferred the case for further hearing to January 19, 2010.

SICCL dragged Jet to court in March claiming that Mr Naresh Goyal-owned carrier has defaulted on the instalment due as payment for acquisition of Sahara Airlines, now JetLite. Hence, Jet is liable to pay Rs 2,000 crore to the company.

Jet acquired SAL in 2007 for Rs 1,450 crore. It paid Rs 900 crore in cash and the rest Rs 550 crore was to be paid in four equal annual instalments of Rs 137.50 crore beginning March 2008.

Earlier in July, both the parties had ruled out the possibility of reaching an out-of-court settlement in the matter.

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