While hearings will continue on the lawsuit, the Supreme Court of the State of New York has said that "the application of plaintiff JTS Trading Ltd for a pre-judgement order of attachment is denied".
Hong Kong-based JTS Trading had approached the court seeking the attachment as part of its USD 350-million lawsuit against UAE-based Trinity White City Ventures, Sahara group and Swiss banking giant UBS over a deal that went sour.
Sources have informed CNBC-TV18 that Sahara Pariwar is confident that the suit will be dismissed in the July 8 hearing as the group believes it cannot be held liable for transactions that could not work out. The group had invited interests from a number of players.