Jet Airways plea for refund rejected

Jet Airways, which is involved in a tussle with its failed takeover target Air Sahara, failed to get respite from an Arbitration panel on its plea for refund of Rs 500 crore paid as advance. Jet had sought refund of Rs 500 crore paid by it as advance to Air Sahara along with interest after a takeover deal was reached in January last year, but the Arbitration Tribunal declined the plea in its hearing here, sources said. Jet officials were not immediately available for comments. 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.

visit us @ http://www.silkrouteholidays.com