Articles
Prudential Framework for Resolution of Stressed Assets, 2019: The Winds of Change in Banking Sector
The last few months have seen a wave of reforms and implementation of new policies in the Indian banking system. One major cause for staggering banking sector is increasing Non-Performing Assets (NPAs). Evaluating bad loans of 39 listed banks in absolute term, it reached 92% in fiscal year of 2016 which was almost Rs. 5.79 trillion. In the backdrop of rising NPAs, the Reserve Bank of India came up with a circular which provided option to stressed companies to resolve NPAs. The first of...
Defects in Tenth Schedule: Perpetuating Constitutional Sin of Defections
In Harish Chandra Rawat case, the Supreme Court said defection is a constitutional sin. This is the story of sinful defections in the mask of mergers. Most unholy political treacheries are becoming constitutionally accepted activities. The mergers are nothing but wholesale defections, forming base of strategies of ruling parties. The fabric of politics is made of tearing a piece from a cloth-roll and stitching it with another, called merger, though design, colour or texture does not match....
Poor Performance Of The Commercial Courts Act, 2015 Finds Empirical Study
In 2015, the Commercial Courts Act, 2015 was introduced to expedite the disposal of high-value commercial disputes. As originally enacted, the legislation required that, commercial cases above Rs. 1 crore were required to be heard by designated courts at the District Courts or High Courts (only if the High Court had ordinary original civil jurisdiction). In 2018, to widen the scope of the Act, the pecuniary threshold was reduced from Rs. 1 crore to Rs. 3 lakhs. The procedural reforms...
Anticipatory Bail And Juveniles: An Ambiguous Tale
Law pertaining to grant of anticipatory bail to juveniles is in a state of flux in India and the absence of the Supreme Court ruling has only added to the ambiguity. Various High Courts have delivered conflicting opinions on the grant of anticipatory bail to the juveniles. Recently, Madhya Pradesh High Court has opined that a juvenile is not entitled to move an application under Section 438 of Criminal Procedure Code (hereinafter Cr.P.C.) for anticipatory bail. The idea of releasing a...
Impact Of Insolvency And Bankruptcy Code 2016 On Indian Industries
The growing world trend and rapid globalisation have led to fast tracking of disposing off the cases related to insolvency, bankruptcy, liquidation etc. It's imperative to study and critically examine how the inception of IBC took place and to also get into the nitty gritty of the said enactment. Many jurists and lawyers are of the opinion that it was about time that something like IBC came into action and it was the need of the hour. But first things first, what is Bankruptcy, Insolvency and...
The Karnataka High Court's Troubling Decision On The Right To Education Act
On 31 May, a division bench of the Karnataka High Court handed down its judgment in RTE Students and Parents' Association v State of Karnataka, upholding the constitutional validity of Rule 4 of the Karnataka Right of Children to Free and Compulsory Education Rules of 2012. The background is this: Section 12(1)(c) of the Right to Education Act requires private schools to admit – to the extent of 25% of the strength of their Class I batches – students belonging to "the weaker sections and...
Civil Rights At The Bar Of The High Courts: The Madras HC On Gag Orders And The Kerala HC On Voting Rights
Two High Court judgments delivered this month have restated certain important constitutional principles.The Madras High Court and InjunctionsThe first is the judgment of the Madras High Court in Ms Menaka v Arappor Iyakkam, delivered on 3 June by R. Subramanian J. In this case, a politician and certain government contractors ["the Applicants"] had filed a defamation suit against the Respondents. The Respondents had published certain claims regarding corruption in the award of government...
Obiter Dicta And Ratio Decidendi-A Tug of War
Over the years there have been many questions raised and a lot has been written on the subject on what determines obiter dicta and ratio decidendi. Legal academics have been arguing ever since over this and there hasn't been a single concrete conclusion, yet it also hasn't given us the liberty and room to interpret this maxim as we please. It does however clarify our doubts and confusions and warns us of certain errors and traps we may fall into with regard to obiter dicta and ratio decidendi....