Supreme Court's direction to RBI in Speak Asia case..
Dear Speak asia,
Please go through the order page of the Supreme Court given on 16th Jan, 2012 in SAOL matter in this article. In this order the apex court has ordered the Reserve Bank of India to file an affidavit within a period of two weeks. And now the hearing is listed on 6th Feb, 2012. You may also go through this link http://courtnic.nic.in/supremecourt/temp/383201131612012p.txt where you can read this order from the website of the honorable apex court.
We would like to draw your attention to an E mail communication dated 14th December, 2011, in which RBI has written to the company saying that the RBI has not placed any restrictions on the company bringing in money through proper banking channels, Further RBI has not placed any restrictions to pay any money to the panelists in accordance to law.
With this clarification from the RBI the way is cleared for the company to bring in the money for the panelists and is now only dependent on getting the requisite clearance from the Supreme Court. From this email communication we can be confident that the RBI's report to SC will definitely be positive. And once the RBI files an affidavit, and the SC gives an order based upon it, then the way will be clear for SAOL to distribute the money to the panelist and probably restart the business once again in full fledged manner.
Lets stay united in this last lap of victory.
Next Date of Listing : 06/02/2012 in SC.....
Proud to be Speak Asian ! ! !
Please go through the order page of the Supreme Court given on 16th Jan, 2012 in SAOL matter in this article. In this order the apex court has ordered the Reserve Bank of India to file an affidavit within a period of two weeks. And now the hearing is listed on 6th Feb, 2012. You may also go through this link http://courtnic.nic.in/supremecourt/temp/383201131612012p.txt where you can read this order from the website of the honorable apex court.
We would like to draw your attention to an E mail communication dated 14th December, 2011, in which RBI has written to the company saying that the RBI has not placed any restrictions on the company bringing in money through proper banking channels, Further RBI has not placed any restrictions to pay any money to the panelists in accordance to law.
With this clarification from the RBI the way is cleared for the company to bring in the money for the panelists and is now only dependent on getting the requisite clearance from the Supreme Court. From this email communication we can be confident that the RBI's report to SC will definitely be positive. And once the RBI files an affidavit, and the SC gives an order based upon it, then the way will be clear for SAOL to distribute the money to the panelist and probably restart the business once again in full fledged manner.
Lets stay united in this last lap of victory.
Next Date of Listing : 06/02/2012 in SC.....
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