The Law and Legality of the Historic Demonetisation of Rs. 500 and Rs. 1000 notes in India

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new entrants in the market

Prime Minister Modi has taken a billion Indians by surprise after the recent demonetization of Rs. 500 and Rs. 1000 currency notes. As of midnight 8th November 2016, these notes have ceased to serve as legal tender in India. Why?  According to the Indian Premier, this stern measure is intended as a fatal blow to the parasitic parallel economy in India. Additionally, it aims to cut the supply lines to the funding of terrorist activities, which primarily involve the use of high denomination currency bills. While the Indian public is taking their time to digest this bitter medicine, let’s take a moment to analyze the legal status of this historic decision and to trace the history of demonetization in India. Continue reading

(Non-IP) Constitutionality of Rule 106B of the Drugs and Cosmetic Rules, 1945

By Tanya Srivastava, III BSL LLB, ILS Law College, Pune
tanya.srivastava2003@gmail.com 

In 1994, Rule 106B was inserted vide a Notification to the Drugs and Cosmetic Rules, 1945; due to a tragedy which resulted in the loss of human lives because of the use of spurious alcohol based medicinal preparations. Continue reading