|AISPA Update: 17th August, 2012.|
| Hindi Version
Good Evening Speakasians, |
There was this hearing in the Bombay High Court in the AISPA Writ 3611/2011 and the same came to be heard today by the Divisional Bench of Hon’ble Mr. Justice A. M. Khanwilkar and Hon’ble Mr. Justice A.R. Joshi.
On hearing both the sides the Hon’ble Divisional Bench was pleased to adjourn the matter to 6th September, 2012, clearly instructing AISPA to get the clarification from the Hon’ble Supreme Court regarding the observation of 10th May, 2012.
In the event that we cannot get such a clarification we will have to argue the matter on the next date i.e. 6th September, 2012.
Let me remind this family that we are absolutely ready to lead our arguments, in the event that the matter is not clarified by the Hon’ble Supreme Court.
I wish to remind this wonderful family that on the orders of the Hon’ble High Court AISPA had filed the application for clarification on 24th July and the matter was mentioned and heard on 27th July, 2012 when the Hon’ble Supreme Court was pleased to pass the following order:
“UPON hearing counsel the Court made the following
O R D E R
List on 8.8.2012”
We all know that on 8th August when this matter was listed for hearing along with all other applications in WP/383/2011, the matter could not be heard and the matter is now shown as listed for 7th November, 2012.
Today (i.e. 17th August) Morning AISPA’s senior Counsel made an urgent mentioning before the Hon’ble Supreme Court and brought to the notice of the Hon’ble Court the extreme urgency in the matter.
The Hon’ble Court has appreciated the urgency and has allowed IA 14(AISPA Intervention Application) to be listed on 24 August, 2012 for hearing the Intervention Application and to decide on the Application seeking clarification as explained above.
On 8th August, 2012, the hopes of a large percentage of Speakasians were shattered and they were left disillusioned and distraught.
It is precisely for such an eventuality that we have been advocating through various updates that we need to approach every milestone (read Date) in this judicial process with complete faith and implicit trust in the judiciary but without any expectation.
We have been flooded by various phone calls from all over the country after the postponement of the WP/383 matter to 7th November, 2012.
Due to the spread of false and baseless info on various forums and blog sites Panelists and Consumers have come to believe that WP/383 will end all our woes, allow us to clarify what will happen through WP/383.
This WP/383 has three basic prayers as follows:
1. SAOL be directed to disburse the RP’s earned by the Panelists.
Direct HVP to refund subscription cost for the period the E magazine was not provided.
2. To issue such Directions so that the ongoing Investigation should not put an embargo or have a hitch in the refund of money collected from the Panelists.
3. To appoint an independent committee so that the approx 150 Crores which is lying seized with various authorities should be brought under the supervision of the Hon’ble Supreme Court for safety and further disbursement as per the orders of the Hon’ble Supreme Court.
On close perusal of the above prayer and the progress in the WP/383 this wonderful family will come to realize that as per the prayer the Hon’ble Supreme Court has appointed Mr. Justice R.C.Lahoti as a mediator in our matter.
What is the present situation of WP/383 and what is expected from this case in the next hearing?
As per our analysis we should be very happy if the following few Applications are decided:
a) Based on the last Mediator’s report submitted to the Hon’ble Supreme Court around March, 2012. We the panelists and consumers should be happy if the Hon’ble Supreme Court orders the EOW to hand over the Mirror Image to the Mediator so that the exact dues of the EXITING Panelists could be ascertained.
b) The Application which prays for the approx 150 Crores lying seized by the various authorities is brought under the purview of the Hon’ble Supreme Court.
c) The Application which prays that the Mediator be empowered so that the process could be hastened for an early and quick resolution of the dispute.
d) The AISPA Application seeking clarification to the 10th May Observation of the Hon’ble Supreme Court.
We would once again wish to remind this entire family that every case is equally important for the eventual goal of business restart. Every case/matter on its own has a limited scope and objective but the final business restart will happen in coordination of various cases.
We think at this juncture it would be pertinent to note that the Company had a filed a Writ against the RBI under which the RBI has given an undertaking that they will decide the SAOL matter within 8 weeks from 2nd August which roughly means that the decision should come latest by 1st October one day before Gandhi Jayanti, Mahatma Gandhi the father of our nation, we all know is the epitome of truth.
When the order in this Writ was uploaded on the website of the Bombay High Court, we came to realize that there seemed to be a typographical mistake and instead of 8 weeks it showed 8 days. Our team members were there in the Court when this matter was heard and it is beyond all doubt that the court pronounced in the open court that the RBI was given 8 weeks to decide the SAOL matter.