New Delhi: Judiciary has been a steady guardian of the rule of law, Chief Justice of India B R Gavai said Saturday while emphasising that the apex court has ensured it does not interfere in the policy matters of economic considerations unless there is a violation of fundamental rights or other provisions of the Constitution.
Speaking at the Sixth Full Meeting of the Standing International Forum of Commercial Courts, he said in commercial and corporate matters, the apex court has been vigilant in ensuring transparency and integrity, rejecting attempts to misuse legal or corporate structures for fraudulent gain.
“The Supreme Court has ensured that it does not interfere in the policy matters which have economic considerations involved unless there is a violation of fundamental rights or other provisions of the Constitution.
“Similarly, the Court has reaffirmed that any interpretation of a commercial statute must be in consonance with the legislative intent while maintaining fairness and public interest,” the CJI said.
Gavai said the Supreme Court has consistently upheld the delicate balance between economic freedom, regulatory discipline, and fairness.
“It has reinforced that the power of the State, particularly in matters of taxation and regulation, must rest on a clear statutory foundation and operate within the limits of the Constitution.
“The Court has emphasised that while regulatory bodies must preserve financial stability and public confidence, their measures must always be proportionate and reasonable,” he said.
“In commercial and corporate matters, the Court has been vigilant in ensuring transparency and integrity, rejecting attempts to misuse legal or corporate structures for fraudulent gain.
“It has underscored that the discipline of timely resolution and accountability is vital for the health of the financial system, while also recognising that commerce must ultimately serve human welfare and social justice,” he said.
The CJI said across diverse areas, such as corporate governance, insolvency, arbitration, and environmental accountability, the Court’s approach has been principled rather than interventionist.
Gavai said as India transitions to a digital and green economy, commercial law must promote sustainability and ethical enterprise.
“Environmental, Social, and Governance (ESG) norms are not foreign imports. They resonate with Article 48A and the spirit of trusteeship in our constitutional philosophy.
“Increasingly, Indian companies are integrating ESG principles in corporate reporting. This is a welcome trend, for markets function best when anchored in responsibility. Profit must be aligned with purpose,” he said.
PTI