deepanshu agarwal

Summary: The Supreme Court of India, in Maniyar Iliyaz v. P. Ayyappan, declared the right to walk on footpaths alongside roads a fundamental right under the Part III of the Constitution, prioritising pedestrian movement over vehicles. The case originated from a fatal accident on a road lacking pedestrian infrastructure, prompting the SC to mandate civic bodies to ensure demarcated footpaths. The SC recognised legislative gaps and called for statutory frameworks and a full-time regulator.

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The Securities and Exchange Board of India ("SEBI") has issued a Circular on June 6, 2024, introducing 'financial disincentives' for market infrastructure institutions ("MIIs") i.e., stock exchanges, clearing corporations, and depositories. This Circular outlines the Surveillance Related Lapses, the financial disincentive which can be levied on MII and the procedure to be followed.