We are disappointed with the judgment
that has been delivered by the Hon’ble Supreme Court earlier today.
We are still in the process of reading
and understanding the judgment. The voluminous evidence that we have already
submitted to substantiate our stance may have possibly been misunderstood.
We maintain that we have already
refunded to 93% of our investors. Most of the payments made were in cash, as
per the RBI norms and in accordance with SEBI and SAT orders. In addition to
ledger entries, we had also submitted original vouchers, receipts and other
concerned documents in original being physical proof of the payments and are
with SEBI pending verification.
We expect to return to the Hon’ble
Court in the near future with further evidence of our compliance of the Hon’ble
Court’s previous...