Chief Justice B R Gavai Highlights Supreme Court's Role in Upholding Economic Integrity

Supreme Court's Commitment to Rule of Law

In a recent address, Chief Justice of India B R Gavai emphasized the judiciary's crucial role in maintaining the rule of law. He stated that the Supreme Court refrains from intervening in economic policy matters unless fundamental rights or constitutional provisions are breached.

During the Sixth Full Meeting of the Standing International Forum of Commercial Courts, Gavai highlighted the court's vigilance in commercial and corporate cases, ensuring transparency and integrity while rejecting any misuse of legal frameworks for fraudulent purposes.

He reiterated that the Supreme Court's non-interference in economic policy is contingent upon the absence of violations of fundamental rights, stressing that interpretations of commercial laws must align with legislative intent while prioritizing fairness and public interest.

Gavai pointed out that the Supreme Court has maintained a delicate balance between economic freedom and regulatory discipline, asserting that state powers in taxation and regulation must be grounded in clear statutory authority and adhere to constitutional limits.

He further noted that regulatory bodies are tasked with safeguarding financial stability and public trust, and their actions must be both proportionate and reasonable.

In the realm of corporate governance, insolvency, arbitration, and environmental accountability, the court's approach has been principled rather than overly interventionist.

As India moves towards a digital and green economy, Gavai stressed the importance of commercial law in fostering sustainability and ethical business practices.

He remarked that Environmental, Social, and Governance (ESG) standards resonate with Article 48A of the Constitution and the ethos of trusteeship, highlighting a growing trend among Indian companies to incorporate ESG principles into their corporate reporting. This shift is seen as beneficial, as markets thrive when grounded in responsibility, aligning profit with purpose.