Today RIL counsel has indicated for the withdrawl of afidavid submitted by its directors about the knowledge and its approval of the family MOU, is a positive sign for RNRL, may take it up.
Today RIL counsel has indicated for the withdrawl of afidavid submitted by its directors about the knowledge and its approval of the family MOU, is a positive sign for RNRL, may take it up.
Varner,
Yes, it could be due to a fact whereby Ram Jethmalani had requested the SC to permit him to have first examination of those 7 independant directors who had filed seperate affidavits claiming to have no knowledge of family MoU. Although I donot know the case-laws or precedents whether such examinations or cross examinations are permitted at HC and SC level, but it seems that Salve is not confident and hence the request for withdrawal of affidavits. A wise lawyer on the MMb board can clarify further, if any. Thanks. akkbatra.
Dear Sheelu,
A brokerage house report had indicated that share price may fall by 70% if RNRL looses the SC case and many wise boarders feel that it can appreciate by 200 - 300% if it wins the case. My personal belief is that the case is Advantage RNRL merely due to a fact that the GOI (through GoM) approved hiked gas price was not notified in the official Gazzatte. I know the reports and case-laws of criminal cases, where the accused persons could not be punished even after their guilt was proved merely due to non-notification of the concerned Law in Gazzatte. A wise lawyer on the MMB board can clarify further, if any. Sheelu, if at all you can average further, CMP around 70 is good, better is around 60 and best price is around 50. Please take your own wise decision. Thanks. akkbatra.
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