OMG, it's literally a S***Storm out there. I was literally one Day away on Selling some SBD's on LocalBitcoins. Even though I would have traded with a Guy I trade always but I will still hold on the selling of my SBD's for now.
This is exactly why there should be proper Regulations. We never encountered these Problems when we dealt directly with exchanges. It's hard to say this but the P2P Model is kind of a Haven for Scammers.
I hope the Supreme Court declares their Decision soon as I feel it is high Time India get's their own Crypto Regulations in Place.