INTERNATIONAL JOURNAL FOR LEGAL RESEARCH AND ANALYSIS

“FREEDOM TO DO BUSINESS AND TRADE IN INDIA: CONSTITUTIONAL PREROGATIVES AND JUDICIAL DYNAMISM” BY - DHILAN SARMA

Authors : DHILAN SARMA

Registration ID : 107822 | Published Paper ID: IJLRA7822

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : dhilan23@nluassam.ac.in

Page No : 18 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-25277477/“FREEDOM TO DO BUSINESS AND TRADE IN INDIA: CONS

HORIZONTAL APPLICATION OF FUNDAMENTAL RIGHTS IN INDIA – NEED AND CHALLENGES BY - ADARSH GOGOI

Authors : ADARSH GOGOI

Registration ID : 107821 | Published Paper ID: IJLRA7821

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : adarshgogoi90@gmail.com

Page No : 18 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-25773833/HORIZONTAL APPLICATION OF FUNDAMENTAL RIGHTS IN IN

ONE PERSON COMPANY IN INDIA & ITS COMPARATIVE ANALYSIS WITH THE UNITED KINGDOM (U.K) BY: TAMANNA BANSAL

Authors : TAMANNA BANSAL

Registration ID : 107820 | Published Paper ID: IJLRA7820

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : tamannabansal07@gmail.com

Page No : 14 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-49667969/ONE PERSON COMPANY IN INDIA & ITS COMPARATIVE ANAL

RIGHT AGAINST EXPLOITATION IN INDIA: EXPLAINED HORIZONTALLY BY - PRIYANSH KANAWAT

Authors : PRIYANSH KANAWAT

Registration ID : 107819 | Published Paper ID: IJLRA7819

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : priyansh23@nluassam.ac.in

Page No : 15 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-42286814/RIGHT AGAINST EXPLOITATION IN INDIA: EXPLAINED HOR

SETTING THE BLOCKS FOR ASEAN: HOW IP INJECTION CAN INCREASE THE FRUITFULNESS OF AEC AND ITS GOAL OF 2025 BY - ABHISHEK SHARMA, ANNANY MAMGAIN & ARYAN GARG

Authors : ABHISHEK SHARMA, ANNANY MAMGAIN & ARYAN GARG

Registration ID : 107817 | Published Paper ID: IJLRA7817 & IJLRA7818

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : abhisheksharma6820000@gmail.com & mamgainannany@gmail.com

Page No : 22 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-64869658/SETTING THE BLOCKS FOR ASEAN: HOW IP INJECTION CAN

UNDERSTANDING CYBER ESPIONAGE AND STATE-SPONSORED ATTACKS BY - DEEPANSHI SRIVASTAVA

Authors : DEEPANSHI SRIVASTAVA

Registration ID : 107816 | Published Paper ID: IJLRA7816

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : deepanshisrivastava462@gmail.com

Page No : 18 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-32156566/UNDERSTANDING CYBER ESPIONAGE AND STATE-SPONSORED

AN OVERVIEW OF DIRECT TAXES CODE BILL BY- AYUSH PATIDAR & SNEHA SHARMA

Authors : AYUSH PATIDAR & SNEHA SHARMA

Registration ID : 107814 | Published Paper ID: IJLRA7814 & IJLRA7815

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : ayushpatidar99933@gmail.com & sharmasneha00123@gmail.com

Page No : 18 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-13997372/AN OVERVIEW OF DIRECT TAXES CODE BILL

CRITICAL ANALYSIS ON THE GAP IN SEBI DISGORGEMENT ORDERS: SAFEGUARDING THE INTERESTS OF AFFECTED INVESTORS AND SHAREHOLDERS BY- AYUSH PATIDAR

Authors : AYUSH PATIDAR

Registration ID : 107813 | Published Paper ID: IJLRA7813

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : ayushpatidar99933@gmail.com

Page No : 16 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-16812149/CRITICAL ANALYSIS ON THE GAP IN SEBI DISGORGEMENT

ASSESSMENT OF BUYER POWER IN COMPETITION LAW: A BOON OR A THREAT BY - DR. GAGAN DEEP KOUR

Authors : DR. GAGAN DEEP KOUR

Registration ID : 107812 | Published Paper ID: IJLRA7812

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : gagan.056deep@gmail.com

Page No : 15 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-89357789/ASSESSMENT OF BUYER POWER IN COMPETITION LAW: A BO

CONSTITUTIONALISM VIS-À-VIS CONSTITUTION: EVOLUTION AND UTILITY IN MODERN DEMOCRATIC INDIA BY - MOHAMMAD SALEEM & RAKA MEDHAVI

Authors : MOHAMMAD SALEEM & RAKA MEDHAVI

Registration ID : 107810 | Published Paper ID: IJLRA7810 & IJLRA7811

Year : May-2024 | Volume : II | Issue : 7

Approved ISSN : 2582-6433 | Country : Delhi, India

Email Id : speaktosaleem.amu@gmail.com & rakamedhavi@srmuniversity.ac.in

Page No : 14 | No of times Downloads: 0065

Doi Link : https://www.doi-ds.org/doilink/05.2024-27893598/CONSTITUTIONALISM VIS-À-VIS CONSTITUTION: EVOLUTI

International journal for legal research and analysis

Abbreviation:IJLRA

ISSN:2582-6433

Website:https://www.ijlra.com/

Accessibility:Open Access

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All research articles published INTERNATIONAL JOURNAL FOR LEGAL RESEARCH AND ANALYSIS are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

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[70] Sungjoon Cho & Jurgen Kurtz, Legalizing the ASEAN Way: Adapting and Reimagining the ASEAN Investment Regime, 66 Am. J. Comp. L. 233 (2018

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[5] (n.d.). 2015 United States–China Cybersecurity Agreement. Wikipedia. https://en.wikipedia.org/wiki/2015_United_States%E2%80%93China_Cybersecurity_Agreement

[6] Rollins, J. W. (2015, October 16). U.S.–China Cyber Agreement. CRS INSIGHT. https://sgp.fas.org/crs/row/IN10376.pdf

[7] (2020, May 28). Understanding the EU's approach to cyber diplomacy and cyber defence. Think Tank. https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI%282020%29651937

[8] Miadzvetskaya, Yuliya and Wessel, Ramses A., The Externalisation of the EU’s Cybersecurity Regime: The Cyber Diplomacy Toolbox (July 21, 2022). 7(1) European Papers 2022, University of Groningen Faculty of Law Research Paper No. 27/2022, Available at SSRN: https://ssrn.com/abstract=4199627

[9] (n.d.). Defending the networks The NATO Policy on Cyber Defence. NATO OTAN. https://ccdcoe.org/uploads/2018/10/NATO-110608-CyberdefencePolicyExecSummary.pdf

[11] (n.d.). TALLINN Manual on the international law applicable to cyber warfare. Www.Penncerl.org. https://www.penncerl.org/wp-content/uploads/2021/12/6481-tallinn-manual-on-the-international-law-applicable.pdf

[12] Williams, J. (2020, December 15). What You Need to Know About the SolarWinds Supply-Chain Attack. Sans.org. https://www.sans.org/blog/what-you-need-to-know-about-the-solarwinds-supply-chain-attack/

[13] (n.d.). The SolarWinds Cyber-Attack: What You Need to Know. Centre for Internet Security. https://www.cisecurity.org/solarwinds

[14] V. (2023, November 27). Email breach chronicles: The NotPetya catastrophe - global havoc in 2017. Zoho.com. https://www.zoho.com/workplace/articles/workplace/articles/notpetya-cyberattack.html

[1] Lok Sabha, F. (2012). STANDING COMMITTEE ON FINANCE (2011-12) THE DIRECT TAXES CODE BILL, 2010 FORTY-NINTH REPORT LOK SABHA SECRETARIAT NEW DELHI (Saka) 2 FORTY-NINTH REPORT STANDING COMMITTEE ON FINANCE (2011-2012) (FIFTEENTH LOK SABHA) THE DIRECT TAXES CODE BILL.

[6] Dr. Justice A.R. Lakshmanan, D.D. Basu, Shorter Constitution of India, 1683 (14^th Ed. 2009).

[7] Dr. Justice A.R. Lakshmanan, D.D. Basu, Shorter Constitution of India, 1683 (14^th Ed. 2009).

[8] Lok Sabha, F. (2012). STANDING COMMITTEE ON FINANCE (2011-12) THE DIRECT TAXES CODE BILL, 2010 FORTY-NINTH REPORT LOK SABHA SECRETARIAT NEW DELHI (Saka) 2 FORTY-NINTH REPORT STANDING COMMITTEE ON FINANCE (2011-2012) (FIFTEENTH LOK SABHA) THE DIRECT TAXES CODE BILL.

[10] Vol. III, (New Delhi, India, 1953-54), 181-330.

[15] McDowell and Co. Ltd. v. CTO, (1985) 3 SCC 230 : AIR 1986 SC 649.

[16] See Nani Palkhivala et al., The Law and Practice of Income Tax 66 (9th Edn., Dinesh Vyas Ed., 2004)(hereinafter “Palkhivala”).

[17] Vodafone International Holdings v. Union of India, 2008 SCC OnLine Bom 1152 : (2009) 311 ITR 46.

[18] Rao, K. R. and Chakraborty, P. 2010. Goods and services tax in India : An Assessment

of the Base, Economic & Political Weekly, XLV (1), January 2.

[19] Rao, M., Rao, G. and Rao, K. R. 2009. Direct taxes code : Need for greater reflection,

Economic & Political Weekly, XLIV( 37), September

[20] Shetty, S.L. 2010. Mare tax concessions for more inequality, Economic & Political

Weekly, 2010 XLV (11).,March 1

[21] Shetty, S.L. 2010. Mare tax concessions for more inequality, Economic & Political

Weekly, 2010 XLV (11).,March 1

[22] Rao, M., Rao, G. and Rao, K. R. 2009. Direct taxes code : Need for greater reflection,

Economic & Political Weekly, XLIV( 37), September.

[23] The Indian Journal of Commerce Vol. 64, No. 2, April-June 2011.

[1] Huntington v. Attrill, 1892 SCC OnLine US SC 245 : 36 L Ed 1123 : 146 US 657 (1892), 667.

[2] Kokesh v. Securities and Exchange Commission, 2017 SCC OnLine US SC 58 : 581 US ___ (2017).

[3] SEC v. Texas Gulf Sulphur Co., 401 F 2d 833 (1968).

[4] Sarbanes-Oxley Act of 2002, Pub. L. No. 107-204, 116 Stat. 745 (2002).

[5] Barbara Black, Should the SEC Be a Collection Agency for Defrauded Investors? 63 THE BUSINESS LAWYER, 317-346 (Feb., 2008). Barbara Black, Should the SEC Be a Collection Agency for Defrauded Investors? 63 THE BUSINESS LAWYER, 317-346 (Feb., 2008).

[6] The Securities and Exchange Board of India Act, 1992, No. 15, Acts of Parliament, 1992

[7] Rakesh Agrawal v. SEBI, 2003 SCC OnLine SAT 38 : (2004) 49 SCL 351.

[8] Id. at ¶77 (Quoting Securities and Exchange Commission v. Maurice Rind, 991 F 2d 1486 (9th Cir 1993)); see Videocon International Ltd. v. SEBI, (2015) 4 SCC 33.

[9] SAT followed the earlier cases of SEC v. Maurice Rind, 991 F 2d 1486 (9th Cir 1993); SEC v. Manor Nursing Centers Inc., 458 F 2d 1082 (2nd Cir 1972); Sterlite Industries (India) Ltd. v. SEBI, 2001 SCC OnLine SAT 28; BPL Ltd. v. SEBI, 2001 SCC OnLine SAT 40; Videocon International Ltd. v. SEBI, Id.

[10] Ritesh Agarwal v. SEBI, (2008) 8 SCC 205, at ¶27.

[11] Roopalben N. Panchal, In re, 2011 SCC OnLine SEBI 33, at ¶9d.

[12] Dushyant N. Dalal v. SEBI, (2017) 9 SCC 660.

[14] The Securities and Exchange Board of India (Amendment) Act, 2014, No. 27, Acts of Parliament, 2014.

[16] Ram Kishori Gupta v. SEBI, 2019 SCC OnLine SAT 149.

[18] THE BOARDOFTHE INTERNATIONAL ORGANIZATIONOF SECURITIES COMMISSIONS, PRINCIPLESFOR FINANCIAL BENCHMARKS(2013).

[21] M.S. Sahoo, Historical Perspective of Securities Laws. CHARTERED SEC'Y (2000).

[22] INTERNATIONAL ORGANIZATIONOF SECURITIES COMMISSIONS, OBJECTIVESAND PRINCIPLESOF SECURITIES REGULATION(2003).

[23] The Securities and Exchange Board of India (Amendment) Act, 1995, No. 5, Acts of Parliament, 1995.

[25]The Securities and Exchange Board of India (Amendment) Act, 2002, No. 59, Acts of Parliament, 2002

[26] ET Bureau, CAG pulls up 5 watchdogs for keeping fee out of govt accounts, THE ECONOMIC TIMES (Mar. 19, 2011, 12:49 AM).

[27] Indian Contract Act, 1872, No. 9, Acts of Parliament, 1872.

[28] ANNA PAYNE & MONIQUE LEAHY, RESTITUTIONAND IMPLIED CONTRACTS, 66AM. JUR.2D §6 (Thomson Reuters, 2001).

[29] Karvy Stock Broking Ltd. v. SEBI, 2008 SCC OnLine SAT 74, at ¶5.

[31] Karvy Stock Broking Ltd. v. SEBI, supra note 32, at ¶7.

[32] Karvy Stock Broking Ltd. v. SEBI, 2007 SCC OnLine SAT 2, at ¶18.

[33] IPO Irregularities-Dealings by Mr. Deepak Kumar Shantilal Jain in The Initial Public Offering of Infrastructure Development Finance Co. Ltd., In re, 2008 SCC OnLine SEBI 176, at ¶13.

[34] Sumeet Industries Ltd. v. SEBI, 2016 SCC OnLine SAT 289.

[35] Palem Srikanth Reddy, In re, 2016 SCC OnLine SEBI 42, at ¶12.

[36] National Stock Exchange of India Ltd., In re, 2019 SCC OnLine SEBI 120, at ¶8.3.3.9.

[37] OPG Securities (P) Ltd., In re, 2019 SCC OnLine SEBI 116.

[38] In National Stock Exchange of India Ltd., In re, supra note 38, at ¶10.2.

[39] In ICICI Bank Ltd., In re, 2016 SCC OnLine SEBI 19, at ¶24.

[40] Trojan and Co. v. N.N. Nagappa Chettiar, AIR 1953 SC 235 : 1953 SCR 789.

[42] Ramkishori Gupta v. SEBI, 2013 SCC OnLine SAT 17 : [2013] SAT 52.

[43] In re Jay Bharat Fabrics Mills Ltd., SEBI Order No.AS/AO-03/2014 (2014), https://www.sebi.gov.in/sebi_data/attachdocs/1393913697715.pdf (last visited May 18, 2020).

[44] Sumeet Industries Ltd., In re, 2014 SCC OnLine SEBI 278.

[47] Bihar Public Service Commission v. Saiyed Hussain Abbas Rizwi, (2012) 13 SCC 61, at ¶22.

[48] N. Narayanan v. Adjudicating Officer, supra note 19.

[49] R.K. Agarwal v. SEBI, 2001 SCC OnLine SAT 15 : 2001 SAT 15.

[1] Dr. Gagan Deep Kour, Assistant Professor, School of Law, Bennett University

[2] William Lovejoy, Bargaining Chains,56 Management Science, 2282, 2291(2010)

[3] Gordon Mills, Buyer Power of Supermarkets, 10 Agenda, 145 (2003)

[5] Inderst & C.Wey, Countervailing Power And Dynamic Efficiency, 9 Journal of the European Economic Association, 702, 703(2011).

[6] Zhiqi Chen; “Defining buyer power”, 53 Antitrust Bulletin, 241, 242(2008).

[7] W. Kip Viscusi, Joseph E. Harrington, Jr., & John M. Vernon; “Economics of Regulation and Antitrust”; 2005 at 294.

[8] Roger G. Noll; “Buyer Power and Economic Policy”, 72 Antitrust Law J. 589; 2005.

[10] Abir Roy, Competition Law in India (2008) at 150.

[11]Franck Latremoiere, Countervailing buyer power and buyer market power, Reckon Open, June 2005; retrieved from http://www.reckon.co.uk/headlines-franckblog.

[12] Chloe Binet, “Buyer Power in EU Competition Law A boon or impediment to consumer welfare?”, Université Catholique de Louvain, 2014

[13] R.Inderst & G.Shaffer, Buyer power in merger control; Antitrust Handbook: Issues in competition law and policy; 2007, Chapter XX, at 18.

[14] In this scenario, it is assumed that lower prices negotiated upstream are passed on to consumers

[15]John B. Kirkwood, Powerful Buyers And Merger Enforcement, 92 Boston University Law Rev. 1485, 1550(2012)

[16] Commission’s decision of 20 November 1996, Case IV/M.784.

[17] Spiral effect refers to continuous strengthening of a firm. If the size of a merged firm is bigger, it would lead to a larger volume-related discount. This would enable such firm to undercut prices offered by its rivals and offer lower prices. This would eventually increase its market share. A greater market share would in turn raise the degree of its purchases, which would increase its buyer power, and it will go on in this manner.

[18] Lars-Hendrik Roller;“Buyer Power in the EU” ; American Antitrust Institute Conference on “Buyer Power and Antitrust”; June 2004; retrieved from http://ec.europa.eu/dgs/competition/economist/buyer_power.

[19] COMMISSION DECISION of 3 February 1999;Case No IV/M.1221

[21] OECD Policy discussion on Monopsony and Buyer Power; 2008; retrieved from https://www.oecd.org/daf/competition/44445750.

[22] Hanns Peter Nehl, Branchenuntersuchung Lebensmittelhandel -The Austrian competition authority concludes inquiry in food distribution sector highlighting indications of strong buyer power ;Concurrences Antitrust Publications, June 2007; retrieved from https://www.concurrences.com/en/bulletin/news-issues/june-2007/The-Austrian-competition-authority-13981.

[23] Two largest retail groups had a combined market share of 57% in 2005

[24] Lucio Tome Feteira; Insights on Superior Bargaining Power; 64 International Competition Law Series 251.

[25] The supply of groceries in the UK market investigation; 30-04-2008; retrieved from http://www.ias.org.uk/uploads/pdf/Price%20docs/538.pdf

[26] The supply of groceries in the UK market investigation; 30-04-2008; Para 41; retrieved from http://www.ias.org.uk/uploads/pdf/Price%20docs/538.pdf.

[29] It varies between 82-90 per cent depending on the country.

[1] Assistant Professor, Faculty of Law, SRM University, Delhi -NCR and Research Scholar, Vellore Institute of Technology School of Law (VITSOL), Chennai, Tamil Nadu.

[2] Assistant Professor, Faculty of Law, SRM University, Delhi -NCR

[3] C.H. Mcilwain, Constitutionalism: Ancient and Modern 21 (McIlwain [1940] 2008); S.A. De Smith, Constitutional and Administrative Law 34 (De Smith 1977).

[4] M.J.C. Vile, Constitutionalism and The Separation Powers 2 (2nd ed., Vile 1967).

[5] See State of Karnataka v. Dr. Praveen Bhai Thogadia, A.I.R. 2004 S.C. 2081.

[6] M.P. Jain, Indian Constitutional Law 6 (5th ed., Jain 2007).

[7] See generally, Bruce Ackerman, Revolutionary Constitutions: Charismatic Leadership and The Rule Of Law (Ackerman 2019).

[8] D.D. Basu, Shorter Constitution of India 17 (14th ed., 2011); see also M. Nagraj v. Union of India, A.I.R. 2007 S.C. 71.

[9] Maneka Gandhi v. Union of India, A.I.R. 1978 S.C. 597.

[10] Keshavananda Bharti v. State of Kerala A.I.R. 1973 S.C. 146; BASU, supra note 10, at 629. See also Union of India v. Hindustan Development Cooperation, A.I.R. 1994 S.C. 988.

[11] State of Kerala v. Thomas, A.I.R. 1976 S.C. 496; Mehta v. Union of India, (1992) Supp. (2) S.C.C. 85.

[12] Constitution of India, Article 37, provides: “The provisions contained in this Part shall not be enforceable by any Court, but the principles therein laid down are nevertheless fundamental in governance of the Country and it shall be the duty of the State to apply these principles in making the laws”.

[13] Constitution of India, Article 41, provides: “The State shall, within the limits of its economic capacity and development, make effective provision for securing the . . . . right to education . . . . . . ”.

[14] Constitution of India, Article 45, provides: “The State shall endeavor to provide early childhood care and education for children until they complete the age of six”.

[15] Constitution of India, Article 46, provides: “The State shall promote with special care the educational and economic interests of the weaker sections of the people . . . ”.

[16] Constitution of India, Article 21-A, provides: “The State shall provide free and compulsory education to all children of the age of six to fourteen years in such manner as the State may, by law, determine”

[17] On the important role played by judicial interpretation in the development of constitutionalism, see Robert M. Cover, Nomos and Narrative, 97 HARV. L. REV. 4 (Cover 1983); John V. Orth, John Gava, Arvind P. Bhanu, and Paul T. Babie, No Amendment? No Problem: Judges, “Informal Amendment,” and the Evolution of Constitutional Meaning in the Federal Democracies of Australia, Canada, India, and the United States, 48 PEPP. L. REV. 341 (Orth et al. 2021).

[18] A.K. Gopalan v. State of Madras, A.I.R. 1950 S.C. 27

[19] Constitution of India, Article 21, provides: “No person shall be deprived of his life or personal liberty except according to procedure established by law”

[20] Constitution of India, Article 14, provides: “The State shall not deny to any person equality before the law or the equal protection of the laws within the territory of India.”

[21] Constitution of India, Article 19, provides: “(1) All citizens shall have the right—(a) to freedom of speech and expression; (b) to assemble peaceably and without arms; (c) to form associations or unions 2 [or co-operative societies]; (d) to move freely throughout the territory of India; (e) to reside and settle in any part of the territory of India; 3 [and] (g) to practise any profession, or to carry on any occupation, trade or business.”

[22] Right of Children to Free and Compulsory Education Act, 2009.

[23] Constitution of India, Preamble, establishes justice, liberty, equality, and fraternity, including social, economic and political justice, as the goals of the Constitution. See P.A. Inamdar v. State of Maharashtra, A.I.R. 2005 S.C. 3226

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