Friday, August 13, 2010

Breaking News: SC Reverses AP HC judgment in Satyam Venture Case

In one of our earliest posts, we had discussed the judgment of AP High Court which held that an application under Section 34 could not be amended after the limitation period for filing such an application had expired. Our position was that the decision lacked any statutory basis whatsoever and amounted to judicial law making by the HC. The Supreme Court on August 11, allowed the appeal of Venture reversing the judgment of the HC in the matter.

I sincerely thank Mr. Badrinath Srinivasan for bringing the judgment to my attention and sending me a copy of the same. More analysis on the judgment will be posted soon.

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