Date:11/01/2007 URL: http://www.thehindu.com/2007/01/11/stories/2007011108171705.htm

Business - Briefly

Jet-Sahara hearing in April

MUMBAI: At the hearings of the arbitration tribunal held in Mumbai on January 9, Jet Airways did not press for the release of the advance payment of Rs. 500 crore, and reserved its rights to do so in the suit in the Bombay High Court, and Sahara accepted the position that the pledge of the shares continues, according to a Jet release. As to the bank guarantee, Jet Airways agreed that the matter be deferred until April 2007 when the main case will be heard, reserving the right to revive the applications if the case is delayed. The tribunal also discussed various procedural matters so as to pave the way for a final disposal of the case in April.