IBA Caution List Cannot Include Advocate for Alleged Negligence: SC

Advertisement Ajay Vijh Vs Indian Banks Association & Ors. (Supreme Court of India) The Supreme Court allowed the appeal and held that a writ petition under Article 226 challenging inclusion of an advocate’s name in the Indian Banks’ Association (IBA) Caution List is maintainable, notwithstanding that the IBA is not “State” under Article 12, since the action affects the advocate’s right to practise under Article 19(1)(g). The Court held that the RBI’s Caution List framework, issued under Section 35A of the Banking Regulation Act, 1949, is intended onl...