The Bombay High Court, after a seven hour long hearing, has fixed Friday to give the ruling over Jet-Sahara case, reserving its judgment on the ongoing tax case between Jet Airways and Sahara India Commercial Corporation Ltd (SICCL). The court of Justice DY Chandrachud has directed both parties to file written submissions on Thursday.

Both parties have been fighting legal battle over Naresh Goyal-owned carrier Jet Airways' failure to pay due installments for acquisition of Sahara Airlines, now JetLite.

Jet was supposed to pay four annual installments of Rs 137.50 crore each to Sahara, beginning from March 2008 as per agreement signed when Jet bought Sahara Airlines from the Sahara Group in April 2007 for Rs 1,450 crore. Sahara alleged violation of agreement by Jet for not paying installments on time, thus, liable to pay Rs 2,000 crore to the Group.

Meanwhile, Sahara's counsel ruled out any possibility of out-of-court settlement, requesting earlier disposal of the case. Sahara Group had earlier also managed to secure order from the HC to attach the movable properties of Jet Airways.

However, after Jet's request, the court stopped the process of further attachment of property.