The Competition & Commercial Law Review

[Anushikha Peer is a third year law student at Rajiv Gandhi National University of Law, Punjab] Introduction Prior to the insertion of Section 148A of the Income Tax Act, 1961, the court had laid down certain procedural requirements in the case of GKN Driveshafts v. ITO, mandating furnishing of reasons for reopening an assessment, inviting objections, and disposing of them by a speaking order before proceeding further. During the period of 1st April- 30th April, 2021, the dep

[Ansh Mishra is a fourth year law student at Maharaja Agrasen Institute of Management Studies.] Introduction In a ruling with significant consequences for the architecture of India's securities clearing and settlement system, the Supreme Court of India in Edelweiss Custodial Services Limited v. NSE Clearing Limited & Anr., has settled a question that had troubled Professional Clearing Members (“PCMs”), Trading Members (“TMs”), and retail investors alike: does a PCM owe a stat