Jet Airways was directed by the Bombay High Court to pay Sahara India Rs.478 crore within two weeks following a legal wrangle over the dues on the Rs.1,450-crore takeover deal of Sahara Airlines (now Jetlite) four years ago.
Justice Dhananjay Chandrachud held that Jet Airways was liable to pay Sahara Rs.478 crore, which includes interest at 9 per cent per annum. This amount was computed on the principal amount of Rs.402 crore, the court said in an oral order.
The judge, however, rejected the petition filed by Sahara claiming Rs.2,000 crore as the total sum for the takeover instead of the renegotiated amount of Rs.1,450 crore agreed between Jet and Sahara on account of default in payment.
A dispute arose between Jet and Sahara over the payment of income-tax dues, each claiming it was the responsibility of the other to pay the amount.
