Update: Jet-Sahara spat, Gharda Chem stake sale row

The Bombay High Court has been buzzing with activity, with two high profile cases: the Jet Airways-Sahara spat and the Gharda Chemicals stake sale row, up for hearing. The two cases have been hogging a lot of limelight of late. CNBC-TV18's Ashwin Mohan reports the latest happenings in detail.

The Jet-Sahara case There is a twist in the ongoing payment default spat between Jet and Sahara. Jet Airways, which was earlier silent, has also decided to challenge the earlier Bombay High Court order which had directed it to pay Rs 478 crore to Sahara. The airline has filed an appeal at the division bench on the Bombay High Court saying that it did not default by deducting tax payment to Sahara. Sahara now appeals to seek higher interest rate of 18% from Jet. Earlier the court order had set interest rate for Jet at the rate of 9%. Both these appeals have been admitted by the Bombay High court and the next hearing has been scheduled for July 19. The Gharda Chemicals internal stake sale spat The High Court has dismissed the appeal filed by Darius Kavasmaneck, nephew of the chairman of Gharda Chemicals. The appeal alleged that the proposed majority stake sale by the company would violate pre-emptive rights. It claimed right of first refusal for the proposed stake sale. The second largest domestic agro-chemicals company has got a stay on the proposed stake sale plans for six weeks and thus Kavasmaneck has that much time to challenge the order at the Supreme Court. There has been a buzz around United Phosphorus being keen on Gharda stake. Mumbai based law firm Legasis Partners advised Gharda Chemicals.