Later ED alleged before the court that Dayanidhi had generated funds worth Rs.742.58 crore through illegal means and there was sufficient prima facie material to proceed against him and other accused in the case. And thus the narrative changed..
Now if the Judges, start to frame policies by their whims and caprices, then it is a very bad news for India. Any justice should have a human touch instead of hard and rock solid bookish judgements. In this context let me quote from Law Live:
In Aircel - Maxis case too the apex court should act in such a way that it creates minimum pain for the innocent minority shareholders, while identifying the true miscreants and punishing them, according to the laws of the land. The question is why should the shareholders suffer and their wealth damaged because one of the promoter's of that merged entity is failing to appear in the court....😰😰😰😰. The court instead of penalizing the retail Investors should have gone all out for bringing Ananda Krishnan to India, isn't it
This is like an old Bengali Joke: "Because I could not get hold of you, I will take action against your shit wherever I get them...!! Sardonic, are some of the Apex Court directions/actions and judgements. Really what to say!!
However, it seems on the short term there is relief on the anvil for the shareholders, as a news on the ET of 11 January, 2017, almost echoes my view:
"The telecom company may seek an opportunity to present its side of the issue and is likely to stress that any decision on its spectrum holding would have implications for stakeholders such as lenders, vendors and employees, apart from shareholders besides Maxis. Senior lawyer Harish Salve said he has been consulted on the matter, but did not comment further".