Jethmalani loses the case, wins the Bar

NEW DELHI: The morning air was thick with anticipation as journalists and lawyers jostled for space inside the wood-panelled central chamber of the Supreme Court of India when the chief justice took seat, along with two senior judges, to pronounce the verdict in a bitter high stakes battle between the world’s richest estranged brothers.

Much was at stake. Several billion dollars, for one. The outcome would have an impact on large quantities of a public good, several state-owned companies, millions of shareholders, future power generation capacity in a power-starved nation, power tariffs paid by millions of ordinary citizens, and reputations of some of India’s most storied lawyers.

Shortly after the large Ajanta quartz clock in the courtroom showed 10:30, Justice P Satasivam started reading out the judgement in a packed courtroom. Many in the back rows held their breath so they could hear. Outside broadcasting vans that formed a vast line outside the court, saw heightened activity.

“I have had the benefit of reading the erudite judgement of my learned brother, honourable Justice B Sudershan Reddy. I’m unable to share the view expressed by him on some points and must respectfully dissent,” Justice Sathasivam read.

Dissent has dominated the affairs of Mukesh and Anil Ambani since 2005. It has rarely been respectful, however.
Journalists in the visitors’ gallery strained to hear the verdict. Reporters from television channels and wire services were at one end of a hungry information food chain, with tens of thousands of investors, stockbrokers and other money managers glued to ticker tapes and television screens on the other end. Any morsel of information on which way the verdict was swerving, was for a while priceless commodity. A fortune could be made with advance information. Crores of shares would change hands in a few hours once the verdict became clear.

But in that heightened state of anxiety, excitement and anticipation, as the 14 low-hanging ceiling fans in the courtroom proved ineffective, it was difficult to hear. Was the judge upholding the contentious MoU or not? Did he just say that the price set by the eGoM was being upheld, or not? Which way was it going? Mukesh, or Anil? Reporters asked each other, but no one was sure. From Justice Sathasivam’s opening lines, it was clear that it was a split verdict. On whose side will the Chief Justice concur? When will that be known?

Confusion reigned supreme, as the highest seat of justice in the country went about settling a complex case and with it, an acrimonious battle between two powerful actors in India’s economic and political landscape.
Justice B Sudershan Reddy started reading out his judgement after Justice Sathasivam completed his. He delivered an elegant verdict, quoting Ambedkar, the ancient Digest of Justinian and even the economist Joseph Stiglitz. But he spoke softly, and could not be heard at all in the visitor’s gallery, where reporters grew more despondent.

Chief Justice KG Balakrishnan listened and surveyed the courtroom, and sometimes seemed to stare absently towards his right. This would be among the last of his sessions. He is due to retire on Tuesday at the end of an extraordinary career.

Once the judges rose, everyone rushed to get out of the courtroom. Anil Ambani, who listened silently the whole time, was among the first to leave. He wore a pink shirt and dark trousers. He did not utter a word as he left.
One after the other, the lawyers who fought the case on both sides stepped out into the commotion of reporters and other lawyers. Harish Salve reached out to Ram Jethmalani and Mukul Rohatgi and complimented them for a well-fought case.

Rohatgi appeared tense. Jethmalani, a veteran of numerous high-voltage court battles, smiled. “What can I say about a judgement I haven’t yet understood?” he shot back at probing reporters. He moved on to enquire about the Supreme Court Bar Association election that was being held just then. He was a presidential candidate.

By then, television channels had started flashing: “SC rules in RIL’s favour.” In the evening, Jethmalani was elected president of the bar association.