By the Way

Legal loopholes

gfiles-mary2015-48There is simmering tension between the judiciary and executive due to the National Judicial Appointments Commission (NJAC). There seems to be a deep-rooted disconnect within the new dispensation in its plan for NJAC. Some facts: The UPA1 and UPA2 regimes had a very cordial relationship with the judiciary. It has been a merit versus seniority debate for the appointment of judges. With the new Act in force, a six-member committee will have a final say for the selection of the judges. Political observers and analysts say this is possibly happening due to the country’s top realty tycoon, DLF. Soon after the new dispensation took over the reins of government, the Supreme Court on August 28, 2014, instructed DLF to pay a `630 cr fine. On February 26 this year, DLF and its non-independent directors-KP Singh, Rajiv Singh, Pia Singh, TC Goyal, Ramesh Sanka, GS Talwar and Kameshwar Swarup-were fined `26 crore each by Securities and Exchange Board of India (SEBI). The fine has been imposed for non-disclosure of material information in the company’s offer documents during its Initial Public Offering (IPO). This is the same IPO which was challenged by an NGO in 2007. The ruling dispensation seems to be aware of the Machiavellian moves of DLF.

VOL. 9, ISSUE 2 | May 2015

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