The recent UK court order relates to a long-running commercial dispute concerning my investment in Emerging Media and should not be viewed in isolation.
It is important to note that the UK order was obtained without a full trial of the issues or my substantive participation. The order arose by way of a procedural default while my legal team has been concentrating its efforts on the substantive proceedings in India, where the primary issues concerning my rights and interests are being actively litigated.
I wish to make my position absolutely clear: I am ready and willing to satisfy the settlement amount sought, provided my shares are returned to me in accordance with my legal rights. It has always been my position that any financial obligations and the restoration of my shareholding should be dealt with together.
I also maintain that I have been deprived of the true value of my investment through what I believe were false promises and representations made by the promoters of Emerging Media, including Manoj Badale. These allegations form part of the wider dispute currently before the Indian courts.
There are presently three ongoing legal proceedings in India concerning Emerging Media, including serious claims of oppression and mismanagement. My legal team is seeking orders to preserve and reinstate my valuable shareholding and related rights. We are confident that the Indian courts will determine these issues on their merits and that the evidence will vindicate my legal entitlement.
In my view, the UK order does not determine the substantive issues being litigated in India and should have no bearing on those proceedings. My legal team also remains confident that the Indian courts will not permit procedural developments in another jurisdiction to deny me a fair opportunity to pursue my claims or obtain justice.
As these matters remain sub judice, it would not be appropriate for me to comment further on the ongoing litigation. I have full faith in the Indian judicial system and remain confident that justice will ultimately prevail.
I will continue to respect the legal process and look forward to these matters being determined fairly and on their merits.
