https://www.taxtmi.com/caselaws?id=271470 A State law that altered the redemption terms of deep discount bonds was analysed under the pith and substance doctrine and held to fall outside the State List fields relied on, as its real effect was to rewrite securities contract terms rather than regulate State public debt or special contracts. The law also conflicted with a comprehensive central framework governing securities, disclosure, transfer, investor protection and variation of contractual terms, so it could not co-exist with Parliamentary legislation. Claims for monetary relief were held unsuitable for writ adjudication because loss, acceptance of redemption amounts and actual damage required factual inquiry, leaving civil remedies open where available. en-us Fri, 15 Jan 2016 00:00:00 +0530 Wed, 17 Feb 2016 19:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271470 A State law that altered the redemption terms of deep discount bonds was analysed under the pith and substance doctrine and held to fall outside the State List fields relied on, as its real effect was to rewrite securities contract terms rather than regulate State public debt or special contracts. The law also conflicted with a comprehensive central framework governing securities, disclosure, transfer, investor protection and variation of contractual terms, so it could not co-exist with Parliamentary legislation. Claims for monetary relief were held unsuitable for writ adjudication because loss, acceptance of redemption amounts and actual damage required factual inquiry, leaving civil remedies open where available. Case-Laws Indian Laws Fri, 15 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271470