Financial Software & Systems [FSS] win an SLP order in the Hon'ble Supreme Court of India

Luthra & Luthra Law Offices (L&L) advised Financial Software & Systems [FSS] in proceedings before the Hon’ble Supreme Court of India in an SLP filed by Mr. Pawan Kumar Gupta, Principal Shareholder and Whole-Time Director of RCI Cash Management Pvt. Ltd. [RCI], a company to whom FSS had outsourced the job of replenishing ATMs with currency notes belonging to SBI and other nationalised banks.

Mr. Gupta of RCI, together with his employees, has been alleged to have siphoned off Rs 23.5 crores from ATMs across India in June 2016. He obtained an anticipatory bail after three days of the rejection of his first bail application. The order granting bail contained no reasons. The High Court of Telengana reversed the said order against which Mr. Gupta preferred an SLP.

The legal issue involved the difference in the jurisprudence between a cancellation of bail on one hand and an order granting bail being perverse on the other. After detailed arguments for over three hours, the Supreme Court was pleased to dismiss Mr. Gupta’s SLP and decided the matter in favour of FSS.

The L&L team was headed by Partner Anirban Bhattacharya, who instructed Senior Counsels Mr. Gopal Subramaniam & Mr. Shekhar Naphade.

Mr. Gupta was represented by Senior Counsels Dr. Abhishek Manu Singhvi & Mr. Sidharth Luthra.