London: Questioning Jet Airways' failure to acquire it, Air Sahara on Friday filed a claim of Rs 3,020 crore before an Arbitration Tribunal and sought honouring of the Share Purchase Agreement (SPA) reached by the two parties in January.
In its prayer before the Aribtration Tribunal headed by British Judge Lord Stein on November 20, Air Sahara sought Rs 3,020 crore from Jet toward execution of the SPA along with recovery of inter-line business revenue that the latter accrued for nearly three months.
As part of its prayer, Sahara sought a direction from the tribunal that Naresh Goyal-promoted Jet should execute the SPA and close the transaction as per directions of the tribunal.
Justice S P Bharucha and Justice BP Jeevan Reddy, both retired judges of the Supreme Court, are on the panel as nominees of Jet and Air Sahara respectively.
Alternatively, Sahara claimed if "Jet Airways is unwilling to buy Air Sahara, then Jet is liable to pay over Rs 1,931 crore as damage, compensation and inter-line revenue etc."
Jet on the other hand, filed its claim a day after thedeadline set by the tribunal, seeking refund of Rs 500 crore paid by it as advance to Air Sahara along with interest. Officials of Jet in Mumbai and Sahara in Lucknow declined to comment.
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