SpeakAsia Legal proceedings Detail












Mr. Satya Bachan

           As yesterday Mr Aman Azad wrote a post which clarified that as WP383 was disposed of as withdrawn , all the orders ,except the final order are deemed null and void .

        When the business model was explained in the SC sometime in the month of Sept/Oct,2011, i think , except for legal representatives of RBI there was no representation of the other parties i.e Income Tax, MCA and EOW.

           The EOW had not filed it’s affidavit till that time in which it alleged that Speakasia was running a very big money circulation fraud .

         Please also remember that the meeting with the RBI was a result of the order of 
the Bombay HC . There is no formal record of any meeting with the MCA.


                Now in this ABA the allegation of money circulation is there in the EOW’s affidavit and the company has a chance to show the court how it’s model does not come under the PCMC act .If one case does not bring satisfactory results it does not mean all other cases will also fail to deliver .

              The company’s case against RBI succeeded and that is why Exit payments are taking place. The company’s case against the order of the AP high court succeeded because the SC has given an order asking the Trial Court not to take cognizance of the AP HC order . WP383 was successful while it lasted and so was WP3611. In the legal environment these things keep taking place and the legal team has to keep changing strategy

 Source- SpeakAsian powers

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