Saturday, 19 January 2013

Nmart Andhra Pradesh Ongole Court Case Update on 18th January, 2013

On date 18th January 2013, a 26 page judgment in case CRLMP/283/2012 regarding bank accounts opening was declared by Ongole Court. In short I can let all of you know my view and the gist of this order. Ongle court has rejected this petition for allowing de-freezing/opening the bank account. It is beyond the power of the lower court. It has been further stated, it is a matter to be decided by the High Court only. Therefore the company has decided to file writ petition in High Court next week.

As in the case of granting bail to CMD and management people, they got bail from session court. But it was challenged in High Court by the opposite party. And now High court has granted bail to management people but cancelled bail of CMD. In the same way bank account case will also be decided finally by High Court or Supreme Court only.

Associates have patience and be aware of the facts. Do not believe in the peoples who called themselves leaders, who were hiding their black faces in the past. Now they are giving dates and dates for opening of malls etc without any documentary evidence. They again will spread rumor or pass any message without confirmation or proof and make you panic. The company and malls will be operated by management peoples only after getting bank account opened by High Court or Supreme Court orders. Till then wait and watch with an eagle eye on every instance.

Link by  
Jitendra Dubey
Nmart Associate (send friend request for regular updates)

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