CAN BANKS’ ASSOCIATIONS BLACKLIST ADVOCATES? SUPREME COURT RESERVES JUDGMENT IN AJAY VIJH CASE
The Supreme Court of India has reserved its judgment in a significant case that could redefine the boundaries between banking regulation and professional autonomy of lawyers. In AJAY VIJH V. INDIAN BANKS ASSOCIATION, the Court is examining whether the Indian Banks' Association (IBA) can effectively “blacklist” advocates by placing their names on caution lists circulated among banks. At stake is not just the career of one lawyer, but the broader question: “Can financial institutions indirectly regulate legal professionals, or does that authority rest exclusively with statutory bodies like the Bar Council?”