INSIDER TRADING IN THE INDIAN BANKING SECTOR: AN ANALYSIS IN SEBI’S RECENT ORDER AND SETTLEMENT

AUTHOR – SOWBAAKHYA Y & SWETHA S,

LL.M STUDENTS AT CENTRAL UNIVERSITY OF TAMIL NADU

BEST CITATION – SOWBAAKHYA Y & SWETHA S, INSIDER TRADING IN THE INDIAN BANKING SECTOR: AN ANALYSIS IN SEBI’S RECENT ORDER AND SETTLEMENT, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 475-479, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract:

                Insider trading remains a major problem in the Indian financial system and, given the high availability of access to inside information in the banking sector and the high potential for abuse, insider dealing is a particularly serious problem in the Indian banking sector. It discusses the legal and regulatory regime for the regulation of insider dealing in India and the role of the 1992 Law on the Securities and Exchange Board of India and the 2015 Law on the Securities and Exchange Board of India (on the prohibition of insider dealing) which together aim at ensuring fairness, transparency and investor protection. In this context, the article reviews two recent important SEBI measures which reflect evolving enforcement practices. In the first case, the 2025 interim order against senior officials of IndusInd Bank Ltd., found prima facie evidence of long-term possession and misuse of unpublished price-sensitive information regarding material mismatch in the derivative portfolio of the bank, imposed trading restrictions, clawback of illegal profits, and extensive disclosure requirements. In the second case, the settlement of insider-trading allegations in the context of the merger of HDFC and HDFC Bank, the derivative trade of a related party based on UPSI leaked by a member of the Deloitte valuation team was settled via monetary payments under the SEBI settlement framework. By exploring these contrasting regulatory actions, the article underscores the persistent challenges in curbing insider trading and emphasises the need for stronger internal controls, ethical governance, and real-time surveillance to reinforce market integrity.

Keywords: Insider Trading, Securities and Exchange Board of India (SEBI), Indian Bank, Finance, Unpublished Prize Sensitive Information (UPSI)

GENDER DISCRIMINATION IN INDIAN LAW: A CRITICAL ANALYSIS OF LEGAL PROTECTIONS FOR MEN

AUTHOR – AVNI BHATIA, SYMBIOSIS LAW SCHOOL, NOIDA

BEST CITATION – AVNI BHATIA, GENDER DISCRIMINATION IN INDIAN LAW: A CRITICAL ANALYSIS OF LEGAL PROTECTIONS FOR MEN, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 458-468, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/OFKC4097

ABSTRACT

The research examines the gender inequalities inherent in the Indian legal system specifically the factor of exclusion of males through the protection of domestic violence, sexual crimes and harassment in the workplace. Although the Indian laws, like the Bharatiya Nyaya Sanhita (BNS) 2023, the Domestic Violence Act, and the POSH Act have played a key role in protecting women, they are mainly gender-oriented disregarding the female and LGBTQ+ victims. By examining the current laws, comparing international models, and applying case-study to it, this paper can see the structural bias that only sees men as attackers. It claims that the provisions of the law are one-sided and not only do not uphold the principle of equality under Article 14 of the Indian Constitution, but also promote the stigmatization of society, which causes underreporting, psychological distress, and disenfranchisement of male victims. The research is based on the global practices in the US, UK, Canada, and Australia, thus recommending the use of gender-neutral laws in India as an urgent practice. It suggests modifications in the criminal and family law, comprehensive safeguards in the workplace and domestic violence legislation, and national sensitization to eliminate the gender stereotypes. The paper concludes that true gender justice can only be achieved when laws are created to safeguard everyone regardless of gender on the nature of harm and not identity.

Keywords: Gender discrimination, Men’s rights, Legal reform, Gender-neutral Laws, Domestic violence, Sexual offences, Family Law, Workplace protections.

THE RIGHT TO ACCESS JUSTICE: A CONSTITUTIONAL MANDATE IN INDIA

AUTHOR – PRINCE YASHWANT RAMESH, STUDENT AT GAUTAM BUDDHA UNIVERSITY, GREATER NOIDA

BEST CITATION – PRINCE YASHWANT RAMESH, THE RIGHT TO ACCESS JUSTICE: A CONSTITUTIONAL MANDATE IN INDIA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 480-484, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The Right to Access Justice in India has evolved from a procedural entitlement into a substantive, enforceable Fundamental Right, rooted in the constitutional guarantees of equality, liberty, and dignity. This paper examines how the Supreme Court, through progressive interpretation of Articles 14, 21, and 39A, has institutionalized access to justice as an essential component of the rule of law. It traces the historical development of the concept—from mere access to courts to a broader framework encompassing affordability, accessibility, effectiveness, and speedy adjudication, as articulated in Anita Kushwaha v. Pushap Sudan. The paper further explores how Article 14 combats arbitrariness, how Article 21 mandates fair and reasonable procedures including free legal aid and speedy trial, and how Article 39A provides the constitutional foundation for equal justice through mechanisms like NALSA under the Legal Services Authorities Act, 1987. Despite a strong constitutional and judicial framework, challenges such as judicial backlog, poor legal awareness, and inconsistent quality of legal aid hinder realization of this right. The study concludes that effective implementation, infrastructural strengthening, and enhanced legal literacy are essential to ensure that the promise of justice—social, economic, and political—reaches every citizen.

Keywords – Access to Justice; Article 14; Article 21; Article 39A; Free Legal Aid; Equality Before Law; Fair Procedure; Speedy Trial; Judicial Activism; Public Interest Litigation (PIL); Legal Services Authorities Act, 1987; NALSA; Substantive Justice; Rule of Law; Constitutional Mandate.

COPYRIGHT CHALLENGES IN THE AGE OF GENERATIVE AI

AUTHOR – MANISHA JHA, STUDENT AT AMITY LAW SCHOOL, PATNA

BEST CITATION – MANISHA JHA, COPYRIGHT CHALLENGES IN THE AGE OF GENERATIVE AI, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 469-474, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The emergence of artificial intelligence (AI) as a creator will change the face of copyright law. The following article looks at the various challenges associated with protecting AI-created works under copyright law and the problems that arise when you examine the idea of authorship and its application to AI. The question of who owns the rights to AI-created works will be examined from both the perspective of the developer of the program that created the work and from the perspective of the training data used to train the program. Additionally, the use of copyrighted works in the training of AI raises questions of whether or not there can be a legitimate claim of fair use and whether or not the use of copyrighted works can constitute infringement. This article aims to document how to define a copyright system that promotes innovation and protects the rights of individuals who create both AI-generated content and those who develop the AI systems that create this content.

CORPORATE LIABILITY FOR BIOMETRIC DATA MISUSE: RECONCEPTUALISING DIRECTOR-SPECIFIC DUTIES IN INDIAN COMPANY LAW

AUTHOR – SARIGA S KUMAR, VELURATHNAKARAN K S, GAYATHRI S R

PG SCHOLARS OF CENTRAL UNIVERSITY OF TAMIL NADU, THIRUVARUR

BEST CITATION – SARIGA S KUMAR, VELURATHNAKARAN K S, GAYATHRI S R, CORPORATE LIABILITY FOR BIOMETRIC DATA MISUSE: RECONCEPTUALISING DIRECTOR-SPECIFIC DUTIES IN INDIAN COMPANY LAW, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 451-457, APIS – 3920 – 0001 & ISSN – 2583-2344

Introduction

The emergence of biometric data as a critical organizational asset has fundamentally altered the landscape of corporate accountability. India’s Digital Personal Data Protection Act, 2023 (DPDP Act) represents a watershed moment in data protection jurisprudence, yet a critical lacuna remains: the absence of explicit director-specific duties regarding biometric data stewardship within the Companies Act, 2013. This paper argues that the intersection of increasingly stringent data protection obligations and the doctrine of directors’ fiduciary duties necessitate the formalization of biometric data protection as a distinct director duty, enforceable through both civil and criminal mechanisms under Indian company law.

The normative foundation for this argument rests on three pillars: (the Supreme Court’s recognition of privacy as a fundamental right in K.S. Puttaswamy v. Union of India (2017);  the statutory framework established by the DPDP Act creating liability for data fiduciaries; and the common law doctrine of directors’ duties of care and diligence under Section 166 of the Companies Act, 2013. Yet courts and regulators have hesitated to articulate a crystallized director-specific duty regarding biometric data safeguarding. This paper fills that gap through doctrinal analysis, comparative jurisprudence, recommendations for statutory reform.

IMPACT OF THE DIGITAL PERSONAL DATA PROTECTION ACT ON COPYRIGHT AND PRIVACY RIGHT

AUTHOR – VARUN LOHIA* & SHUBHAM KUMARI**

STUDENT AT AMITY UNIVERSITY PATNA

BEST CITATION – VARUN LOHIA & SHUBHAM KUMARI, IMPACT OF THE DIGITAL PERSONAL DATA PROTECTION ACT ON COPYRIGHT AND PRIVACY RIGHT, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 278-281, APIS – 3920 – 0001 & ISSN – 2583-2344.

I. Introduction: The Legislative Fulcrum of Digital Governance

The enactment of the Digital Personal Data Protection Act 2023 (DPDP Act)^[1] signifies a development in Indias digital regulatory landscape establishing the nations inaugural all-encompassing framework for managing the handling of digital personal data. This legislation, passed by Parliament on August 11 2023 is not merely a regulation—it embodies the constitutional realization of the Supreme Court’s pivotal decision, in Justice K.S. Puttaswamy (Retd.). Anr.. Union of India and Ors. (2017)^[2] Which ruled that privacy is an essential element of the fundamental right to life guaranteed by Article 21 of the Constitution of India. Acknowledging privacy as a right intensified the need for a strong rights-focused framework, for data governance leading to the DPDP Act serving as the legislative tool to fulfill that constitutional requirement.

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[1] Digital Personal Data Protection Act, 2023 (Act 22 of 2023).

[2] Justice K. S. Puttaswamy (Retd.) and Anr. v. Union of India and Ors. (2017) 10 SCC 1.

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE INTEGRATION IN INDIAN COMPANY LAW: THE EVOLUTION FROM DISCLOSURE TO SUBSTANTIVE CORPORATE ACCOUNTABILITY

AUTHORS – ANDREW PAUL R, MEGHNA DAS & ABHIJITH M,

LL.M STUDENTS AT DEPARTMENT OF LAW, CENTRAL UNIVERSITY OF TAMIL NADU, THIRUVARUR.

BEST CITATION – ANDREW PAUL R, MEGHNA DAS & ABHIJITH M, ENVIRONMENTAL, SOCIAL, AND GOVERNANCE INTEGRATION IN INDIAN COMPANY LAW: THE EVOLUTION FROM DISCLOSURE TO SUBSTANTIVE CORPORATE ACCOUNTABILITY, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 263-273, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

The integration of Environmental, Social, and Governance (ESG) considerations into corporate governance represents a paradigmatic shift in how companies operationalize their fiduciary obligations. India’s approach to ESG, anchored in the Companies Act, 2013, coupled with the Securities and Exchange Board of India’s (SEBI) Business Responsibility and Sustainability Reporting (BRSR) framework, reflects an emerging jurisprudence that transcends mere philanthropic charity or regulatory compliance. This paper examines the legal architecture of ESG in Indian company law through three distinct dimensions: (i) the statutory embedding of ESG within directors’ fiduciary duties; (ii) the interpretive role of the Indian judiciary in expanding corporate accountability; and (iii) the tension between disclosure-based enforcement and substantive operational accountability. Through critical analysis of landmark judicial decisions particularly Vanashakti v. Union of India (2025), M.K. Ranjitsinh v. Union of India (2021), and evolving interpretations of section 166 of the Companies Act this paper argues that India stands at a crossroads between formalistic ESG compliance and genuine stakeholder accountability, requiring legislative refinement and institutional strengthening to bridge the enforcement gap that currently characterizes the BRSR framework.

Keywords: Environmental Social Governance (ESG), Greenwashing, Business Response Sustainability Reporting (BRSR), Taskforce for Climate related Financial Disclosure (TCFD), Corporate Sustainability Reporting Directive (CSRD)

CONSTITUTIONALISM AND JUDICIAL REVIEW IN INDIA: SAFEGUARDING FUNDAMENTAL RIGHTS

AUTHOR – NANDHITHA R DINESH, STUDENT AT AMITY UNIVERSITY

BEST CITATION – NANDHITHA R DINESH, CONSTITUTIONALISM AND JUDICIAL REVIEW IN INDIA: SAFEGUARDING FUNDAMENTAL RIGHTS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 248-256, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/WWWR3206

Abstract

A constitution without effective oversight is like a declaration without enforcement; fundamental rights without institutional guardianship may remain mere ideals. In modern constitutional democracies, judicial review and the protection of fundamental rights serve as essential safeguards, ensuring that laws protect individuals rather than leaving them at the mercy of unchecked state authority. This paper examines how constitutionalism the idea that government is bound by law and accountable to citizens is realized in India through judicial review and rights protection. It explores the historical and conceptual foundations of judicial review, analyzes landmark cases that have shaped its scope, and reflects on its practical impact in safeguarding  liberties of the citizens. The study also considers contemporary challenges, such as judicial overreach and systemic delays, while suggesting pathways for strengthening these mechanisms. Ultimately, judicial review is not merely a legal procedure but a vital bridge that translates constitutional promises into lived realities, making democracy meaningful and accountable.

“DUAL VS. COOPERATIVE FEDERALISM: A THEORETICAL AND PRACTICAL ASSESSMENT”

AUTHOR – SHIVENDRA SINGH, LLM (IP) STUDENT AT AMITY UNIVERSITY

BEST CITATION – SHIVENDRA SINGH, “DUAL VS. COOPERATIVE FEDERALISM: A THEORETICAL AND PRACTICAL ASSESSMENT”, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 433-450, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/QTPS9141

Abstract

This paper examines two foundational theories of federalism—dual federalism and cooperative federalism—analyzing their theoretical underpinnings, historical development, and practical applications. Through comparative analysis, this study explores how these models conceptualize the distribution of power between national and subnational governments, their implementation in various constitutional systems, and their effectiveness in addressing contemporary governance challenges. The paper argues that while dual federalism provided the initial framework for federal systems, cooperative federalism has emerged as a more pragmatic approach to modern governance, though neither model exists in pure form in practice. By examining case studies from the United States, India, and other federal systems, this research demonstrates that successful federalism requires flexibility and adaptation rather than rigid adherence to a single theoretical model.

Keywords: Dual Federalism, Cooperative Federalism, Constitutional Theory, Intergovernmental Relations, Vertical Division of Powers

THE FUTURE OF PATENTS IN THE PHARMACEUTICAL INDUSTRY

AUTHOR – RANJAN KUMAR, STUDENT AT AMITY LAW SCHOOL, PATNA

BEST CITATION – RANJAN KUMAR, THE FUTURE OF PATENTS IN THE PHARMACEUTICAL INDUSTRY, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 428-432, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The future of pharmaceuticals will be driven by a number of factors, including rapid scientific innovations, new biotechnology developments, and global priorities related to health care. As a result, traditional patent laws—the foundation for protecting new discoveries and products—are undergoing increasing scrutiny as the pharmaceutical industry faces more and more challenges internally and externally. This paper will assess what the future will look like with respect to patents in pharmaceuticals by examining some of the major issues facing the industry today—high research & development costs, patent cliffs, the always-present issue of evergreening, and the unequal access to life-saving medicines between middle-income and low-income countries—as well as the potential of new regulatory models (such as data exclusivity, compulsory licensing, open-science drug discovery, and international regulatory harmonization) to alleviate these challenges. Furthermore, this paper will assess the impact of technological advancements (such as AI and personalized medicine) on the patentability and enforcement of new pharmaceutical inventions, as well as the potential effects of these advancements on pharmaceutical markets.

 Overall, the findings presented in this paper point to the need for an adaptive/escrow-system patent model that provides the necessary incentives for innovation while simultaneously providing access to necessary therapies for all individuals, particularly to those in low- and middle-income countries, by means of co-operative governance between multiple health care systems. The findings indicate that the long-term growth of both science and public health will depend on partnerships between government, industry, and academia, working together as collaborative remonstrators of “hybrid innovation”