SPEAK ASIA : MEDIATION PROCESS



The Hon’ble Supreme Court vide an order dated 14th November, 2011 had appointed Mr. Justice R.C.Lahoti ji as a Mediator in this matter. The court has asked the Mediator to ascertain the entire dues of the panelists wanting to EXIT and the Tax liabilities of the company. 

Before the Mediator could ascertain the entire dues the company on its own accord has deposited with the SC registry an amount of USD 10 Million (Approx Rs. 50 Crores)

AISPA had conducted a question and answer session with our Adv. Ahmad Abdi Sahab and Abdi Sahab has reminded us in the end of the video that the speed of the SAOL matter is creating history of sorts and it is rarely seen that the matter reaches such an advanced stage in such a short time frame.

Some panelists have mistaken Abdi Sahab’s contention, and have assumed that the Web Site is with the Mediator. Mr. Abdi Sahab has in fact said that “the matter” related to Web site is before the Mediator and will be resolved by the Supreme Court.

All in all the entire matter is moving in the favor of the panelists and the resolve of the company to return back soon is amply evident by the letter dated 3rd April, 2012.

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