Click to play videoMumbai: The Jet Sahara courtroom battle never ends and now it seems to be getting fiercer.
Sources say that Sahara has sought that the transaction be completed and in support of this claim it has argued that the share purchase agreement is still valid and binding.
Sahara has asked arbitrators to direct Jet to honour the share purchase agreement and pay Rs 3020 crore.
This is to recover the business revenues that Jet received by selling tickets of Air Sahara, the loss of interest and other operating expenses.
This Rs 3020 crore in question is almost Rs 800 crore more than the original agreed value of the deal which is Rs 2200 crore.
In an alternative plea, Sahara has said that if Jet is unwilling to buy the airline then it should pay Rs 1931crore as compensation.
Jet, in its statement of claim has asked Sahara to return the advance of Rs 500 crore that it has already given to the airline.
Sources say that Sahara has already raised objections to this claim saying that it was filed after the November 20 - the due date given by the arbitrators to file the claims.
According to the arbitrational proceedings Jet and Sahara will have to reply to each other’s claims in the next three weeks. So it looks like this battle is not coming to an end soon.
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