Home News Bitcoin Supreme Court Orders Respondents to File Their Counter Petition Against Amit Bhardwaj

Supreme Court Orders Respondents to File Their Counter Petition Against Amit Bhardwaj

January 10, 2019 17:20
Source: Entrackr
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The saga of Amit Bhardwaj and his company GainBitcoin continues and shows no signs of slowing down.

Earlier, we had reported that Amit had filed a writ in the Supreme High Court where he has asked that all the cases against him be compiled into one single case and has also made Union of India and other government agencies as respondent stating that according to the consumer rights guidelines from 2016, he has done no wrong and has asked that the case against be either quashed or he be given bail.


Retaliating against all these charges, Bhardwaj had filed a petition stating that he was innocent. A copy of the petition which is in the possession of Crypto-News India states, “GainBitcoin agrees to use its best endeavors to operate GainBitcoin’s computer system applying the hash rate agreed between the GainBitcoin and the Buyer to produce Bitcoins and pay 10% @ current hash difficulty level for a total of 18 months from the date of such Bitcoin Cloud Mining Contract.”

While the contract is clear, Bhardwaj claims that the case should be quashed in court because “there was never a guarantee given to Clients/customers that there would be assured returns of 10% on their investment.”

Although a new date has not been set by the Supreme Court as of yet, there was a hearing. Crypto-News India has a copy of the order set down by the Supreme Court to the respondents which says, “Now, therefore take notice that the writ petition above-mentioned will be posted for hearing along with connected matter before this Court in due course and you may enter appearance before this Court, either in person or through advocate-on-court duly appointed by you in that regard, within 30 days from the date of service of notice. You may therefore show cause to the Court as to why rule nisi (unless) in terms of the prayer as contained in the writ petition should not be issued.”

The order further stated, “Take further notice that in default of your appearance the matter will be heard and determined in your absence.”

Our anonymous source who has so far been instrumental in getting us the details said, “Despite Amit’s PCR ending, he has gotten himself admitted to the Apollo hospital in New Delhi, when he should be in Pune this month, under judicial custody. But under some pretext or other, he has been able to extend his stay in the hospital since the past one and a half months.”

The source added, that out of 18 PCRs, Bhardwaj has completed only 8, since the time he was arrested in April.

The truth bombs of this case continue to pulverize the community. The source said, “From September 2016 to June 2018, 2093 blocks mined 12. 5 bitcoins which was equal to 26162 bitcoins.” Checking the blockchain records, the last transaction was sometime in June 2018. The source added, “Till 30th March 2018,Amit Bhardwaj persuaded victims to hold M-cap. He convinced people to hold on assuring them that the price of M-Cap would go up which he would pump and dump. He had also distributed 18 bitcoins equivalent worth of MCap to victims from all over the world.”

Bhardwaj had also allegedly changed the wordings of the contract. At first, he had said the company would give out bitcoins, but later on he changed it to the company giving out cryptocurrencies without prior notifications.

Old Contract was issued in 2015
New contract issued on 29 Sept 2017

The source said that Bhardwaj was continuing to play mind games despite being in custody. He said, “From 2008-2012, there were 50 bitcoins to be mined on a block in 10 minutes, from 2012-2016, there were 25 and from 2016-2020 there would be 12.5 bitcoins mined every 10 minutes. If Amit knew about this, why did he entice us into signing a contract that he would be able to generate bitcoins?”

While all these are very disturbing revelations, Bhardwaj’s victims continue to hope that they will receive the justice, they have been seeking all this time.

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