It's quite possible as all the govt has to do is introduce the draft ban bill for a vote in the parliament which they intend on doing during the december winter session. If it gets passed it will become the law eventually and the hearing for this bit is scheduled end of Jan which in all likelyhood might get delayed.  

Most (I would honestly say all) of our current law makers are mostly clueless on this space. Our FM is far from being able to do the job at hand, forget regulating cryptos. 

Maybe Supreme Court will stop the ban in its tracks. But if the bill goes to parliament it might become the law which then might need to be stayed or over turned by the supreme court. Hence, it's hard to say how this will go for sure. The RBI vs IAMAI case might work in favour of cryptos in the draft ban bill case if we win this round. 

The govt doesn't give a damn. The current 'regime' has rekt our economy and social fabric already! They care about introducing a digital rupee/centralised private blockchains but stiffly oppose decentralised blockchains and cryptos/tokenisation.

Currently cryptos aren't illegal as there is no regulation. So it's safe to operate in any vertical of this industry. Proposed ban opposes anything you can think of under the sun that somehow relates to this space.

However, i'm hopeful that they will see things different and choose to bring in positive regulations and perhaps by overhauling the current proposed draft ban bill as the Indian IT body has also opposed the ban officially. Only time will tell for now.

WazirX, CoinDCX, Giottus all work fine. They have p2p system especially WazirX which works extremely well. :)