The Supreme Court ruled that the Bar Council of India (BCI) lacks jurisdiction to discipline or penalize law students, noting that the Advocates Act, 1961 only confers powers over registered advocates. The ruling came on a petition by NALSAR graduates challenging BCI's punitive actions and letters against students who protested against former Chief Justice Surya Kant's remarks. The apex court reaffirmed that only universities can discipline students, protecting student rights to free speech, dissent, and academic autonomy against regulatory overreach by professional bodies.
The Supreme Court ruled that the Bar Council of India has no statutory power under the Advocates Act, 1961 to discipline law students.
The BCI's disciplinary powers are strictly limited to registered advocates, not students.
The court protected university autonomy and students' constitutional rights to free speech and dissent in academic spaces.
Exam Points
The case involved NALSAR graduates represented by senior advocates K. Parameshwar and Rupali Samuel.
The judgment analyzed the provisions of the Advocates Act, 1961 regarding regulatory jurisdiction.
The three-judge Bench was headed by Chief Justice Surya Kant.
The National Statistical Office (NSO) reported manufacturing sector Gross Value Added (GVA) at ₹386.6 lakh crore for 2023-24 at current prices, representing 14.7% of GDP. However, an 'Alternative Estimate' using data from the Annual Survey of Industries (ASI) and Annual Survey of Unincorporated Sector Enterprises (ASUSE) showed a significantly lower figure of ₹274.4 lakh crore. This ₹112.2 lakh crore discrepancy underscores critical methodological differences, data collection variations, and uncaptured potential GVA from residual workers in the unorganized sector, prompting calls for independent verification and statistical reconciliation.
NSO estimated manufacturing sector GVA at ₹386.6 lakh crore for 2023-24, accounting for 14.7% of GDP.
Alternative estimates using ASI and ASUSE data put the figure much lower at ₹274.4 lakh crore.
The substantial gap of ₹112.2 lakh crore arises from differences in data sources, methodologies, and definitions.
Exam Points
The manufacturing sector GVA for 2023-24 at current prices is ₹386.6 lakh crore (14.7% of GDP).
The alternative estimate via ASI and ASUSE is lower by 40.9%.
Potential GVA of 'residual workers' not captured by ASI/ASUSE is estimated at ₹31.6 lakh crore.
The Supreme Court disposed of a batch of appeals filed by the Securities and Exchange Board of India (SEBI) against the National Stock Exchange (NSE) regarding co-location and dark fibre cases, following a nearly ₹1,500 crore settlement between the market regulator and the exchange. A Bench of Justices J.B. Pardiwala and K. Vinod Chandran set aside Securities Appellate Tribunal (SAT) directions against SEBI. The resolution comes ahead of NSE's highly anticipated stock market debut, successfully resolving a decade-old regulatory dispute and reinforcing transparency in financial markets.
The Supreme Court disposed of SEBI appeals against NSE regarding co-location and dark fibre cases following a settlement.
Total settlement amount between SEBI and NSE stands at nearly ₹1,500 crore.
The settlement includes ₹1,224 crore for the co-location case and ₹268 crore for the dark fibre case.
Exam Points
The settlement amount is nearly ₹1,500 crore (specifically ₹1,224 crore + ₹268 crore).
Allegations of unfair access first surfaced via a whistleblower complaint in January 2015.
The Bench comprised Justices J.B. Pardiwala and K. Vinod Chandran.
The Parliamentary Standing Committee on Finance strongly criticized the present Income Tax regime for relying excessively on 'punitive action' and granting tax officials sweeping scope for overreach. During discussions on 'Direct Tax Reforms: Simplification, Rationalization and Ease of Compliance', lawmakers highlighted compliance-related glitches in the implementation of the Income Tax Act, 2026, a surge in intrusive notices to taxpayers to prove compliance, and declining taxpayer trust. The committee sought comprehensive additional data from the Central Board of Direct Taxes (CBDT) on revenue collections, assessees, and pending litigation.
The Parliamentary Standing Committee on Finance criticized the Income Tax regime for heavy-handed enforcement and punitive actions.
Lawmakers expressed deep concern over a surge of intrusive notices forcing taxpayers to prove compliance.
The panel demanded data from the CBDT regarding tax revenue collections, number of assessees, and pending litigation volumes.
Exam Points
The committee meeting focused on 'Direct Tax Reforms: Simplification, Rationalization and Ease of Compliance'.
Discussions also touched upon GDP growth estimates and former Union Finance Secretary Subhash Garg's claims on economic expansion.
Iran launched retaliatory missile and drone strikes against U.S. military targets across West Asia, hitting Kuwait's Ahmed al-Jaber Air Base, following extensive U.S. airstrikes in Iran that killed at least 19 Iranians. While Kuwait intercepted attacks and condemned the strike as a grave breach of international law, Iran's Islamic Revolutionary Guard Corps vowed further revenge. The escalation has intensified global concerns over a widening regional war, drawing in Gulf nations, threatening critical infrastructure, and prompting urgent international calls for de-escalation and the protection of civilians.
Iran targeted U.S. bases in West Asia, including Kuwait's Ahmed al-Jaber Air Base, with missiles and drones.
The strikes followed extensive U.S. bombing across Iran that resulted in at least 19 fatalities.
Iran's Revolutionary Guards vowed further retaliation, raising fears of a broader regional conflict.
Exam Points
The strikes targeted U.S. military assets in Kuwait, the UAE, Bahrain, Jordan, and Iraq's Kurdistan region.
U.S. Central Command (CENTCOM) confirmed U.S. military targets were hit.
Developments occurred amidst renewed flare-ups six months into the current geopolitical crisis.
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