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Flickr Photo Pool -> Airliners-India -> Civil Aviation -> Jet and Sahara --- cat fight
Post Info TOPIC: Jet and Sahara --- cat fight
ABN397


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vabby wrote:
 
probably in bed at his lucknow home dont ask me with whom lol ......
 
 On second thoughts there was a big scare in the media he isnt doing well. But i remember him travelling in a Golf Kart with Anna Kournikova lucky B****rd-- Edited by vabby at 19:04, 2006-07-02


Sahara has signed up a variety of other ladies ranging from Aishwarya Rai to "perfect ten" gymnast Nadia Comaneci

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the_380


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With their level of finances i think S2 will not be able to pay them

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HAWK21M


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Maybe now He can borrow from them


BTW Hows Amby Valley doing.


regds


MEL



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the_380


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Amby valley doing worst.. low sales than expected
rgds
the_380

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HAWK21M


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How Many Houses out there.Any Link.


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MEL



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the_380


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Dont have appropriate info had been to Lonavala and someone told us that its not doing that good.

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HAWK21M


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Was it SR Himself.


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MEL



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the_380


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SR himself wud have told me that most are sold buy now or later u wont get any

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VABBy


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 Keeping the thread uptodate the Saharashri has made a move in the Local Lucknow Dist. Court in response to the Jet,s Notice of refunding the 500 CR and unfreezing of the escrow a/c which ICICI bank holds. Its to be noted that Jet has contemplated that Saharashri was the personal guranter that incase the deal falls apart the money would be returned to Jet.


The ET link is given below


 


A lengthy court battle between Jet Airways and Air Sahara over their failed takeover deal does not seem inconceivable, as Sahara Group Chief Subrata Roy has now moved a local court seeking stay on refund of Rs 500 crore to Jet and freeze on the Rs 1,500 crore escrow account.

Roy, known in the group as 'Sharashri,' along with the group's flagship company Sahara India and others petitioned the Lucknow district court, which in turn issued notices to Air Sahara, ICICI Bank and Jet Airways.

District and Sessions Judge Shiv Charan Sharma, while registering the petition, directed that it be listed along with the earlier similar petition filed by Sahara India Commercial Corporation Limited (SICCL) on July 29.

The petition interestingly comes within days of Jet Airways approaching the Bombay High Court for refund of Rs 500 crore paid by it against shares of Air Sahara pledged and a petition in the Supreme Court for transfer of all related litigation in Lucknow to the Bombay High Court.

The jugde in his order said that a petition challenging the jurisdiction of the district court, as well as seeking transfer of the matter to Bombay High Court, was currently pending in the Supreme Court.

Interestingly, Air Sahara along with ICICI Bank - the escrow agent - and Jet Airways had been made respondents in the new petition.

While the earlier petition was filed by SICCL with O P Srivastava as the other plaintiff, the new petition has been moved by Sahara India Limited with Subrata Roy, the group Chairman, J B Roy and Vandana Bhargava, the company secretary as other plaintiffs.


 


http://economictimes.indiatimes.com/articleshow/1704911.cms



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the_380


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Good article thanx for sharing vabby a few questions:


1.What is this "Saharashri"?


2.Why is it called escrow account and not ICICI Bk. Account?


 



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HAWK21M


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Shara Shri is the Name for SR.


Note his Older BBJ is Registered VT-HSS


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MEL



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Nimish


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Was reading some magazines yesterday on this issue.

The business standard had a very good summary of the issue, and they placed the blame solely on 9W.

India today had a half hearted coverage, not presenting a clear opinion on the issue, but interestingly, they blamed S2 for not adding in sufficient penalty clauses in case the contract did not go through.

As they say - hind sight is 20/20!

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HAWK21M


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Blame both for not working it out.Loss for Indian Aviation.


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MEL



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the_380


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Why do u call it a loss???


Its not a loss still some1 else can buy S2



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D-ABTH


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just got back from work... the Air Sahara 767 is indeed at BOM and parked at the Cargo Terminal bays as of this morning. Too bad it was raining too heavily for me to try and take a pic of it.

Be rest assured though.... its very much in BOM and in FULL SAHARA colours.

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HAWK21M


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Now Im confused.Are there Two.Whats the B767 in 9W hangar.It was there on Early Thu morning.


I think I need to take a Drive tonight to confirm.


regds


MEL



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D-ABTH


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HAWK21M wrote:
Now Im confused.Are there Two.Whats the B767 in 9W hangar.It was there on Early Thu morning.
I think I need to take a Drive tonight to confirm.
regds
MEL


whats the confusion about?.... when i saw it it was Friday early morning... which is AFTER you saw it on thursday if you realise.

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VABBy


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 It was quoted in an ET article that they will starting their DEL-LHR flights in July BTW S2 sixer tickets ie 6 flight coupons cost INR26K


 


 



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HAWK21M


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True.Only one S2 B767 Thankfully


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MEL



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the_380


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If S2 wud have had another 767 then it will ask for the price of 600mn$ to its buyer

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