Supreme Court Limits IBA Caution List to Fraud and Affirms Bar Council's Exclusive Disciplinary Jurisdiction
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Case: AJAY VIJH v. INDIAN BANKS ASSOCIATION
Court: Supreme Court of India
Date: 07-07-2026
Law: Constitution of India, Advocates Act, Banking Regulation Act.
Highlights of the Judgment:
- An analysis of the maintainability of writ petitions under Article 226 against non-State entities performing public functions.
- The scope of the Reserve Bank of India's guidelines regarding the inclusion of professionals in the Caution List.
- The distinction between professional negligence and fraud requiring mens rea in banking transactions.
- The exclusive statutory jurisdiction of the Bar Councils over the professional misconduct of advocates under the Advocates Act, 1961.
- A directive to the Bar Council of India to conduct a performance audit of its disciplinary mechanisms.
- Proposals for institutionalizing Continuing Legal Education and establishing a National Legal Academy for lawyers.