Jet Airways moved the Supreme Court on Wednesday seeking to transfer all ongoing arbitration cases filed by its failed acquisition target Air Sahara in the Lucknow district court to the Mumbai high court, raising jurisdiction issue.
Jet contended as per the arbitration agreement, the seat of arbitration would be Mumbai.
The Naresh Goyal-promoted carrier sought a direction to stay all proceedings on the petition filed by Air Sahara in the Lucknow court.
Disclosing its plans to file a transfer petition before the apex court, Jet said on Tuesday that it did not pursue the deal beyond the June 21 deadline "for commercial reasons, and in the interest of Jet Airways, and its family of shareholders."
"There is nothing more to the actions of the Parties (of not seeking extension of Share Purchase Agreement) beyond commercial considerations," Jet said, seeking to clarify its position after what it called "inaccurate statements made by vested interests".
Alleging that Jet had terminated the contract, Sahara had moved the district court in Lucknow on June 21 and sought an interim stay on operation of the escrow account and followed it up with another injuction on the sale of share pledged by it to Jet for an advance of Rs 500 crore (Rs 5 billion).
The issue is coming up for hearing on June 30.