https://www.taxtmi.com/caselaws?id=407480 Directions issued by RBI under Section 35A of the Banking Regulation Act, 1949 for banking policy and capital adequacy were treated as a valid basis for the Basel III Master Circular, not as an impermissible implementation of international standards under Article 253. AT 1 bonds were described as regulatory capital with perpetual tenor, subordination and loss-absorbency, and were held not to be share capital or debentures under the Companies Act, 2013. The write-down structure was upheld as rationally connected to financial stability and capital adequacy, with no violation of Articles 14, 19, 21 or 300-A. The Master Circular and AT 1 framework were therefore sustained as intra vires and lawful. en-us Wed, 30 Sep 2020 00:00:00 +0530 Wed, 12 May 2021 08:29:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407480 Directions issued by RBI under Section 35A of the Banking Regulation Act, 1949 for banking policy and capital adequacy were treated as a valid basis for the Basel III Master Circular, not as an impermissible implementation of international standards under Article 253. AT 1 bonds were described as regulatory capital with perpetual tenor, subordination and loss-absorbency, and were held not to be share capital or debentures under the Companies Act, 2013. The write-down structure was upheld as rationally connected to financial stability and capital adequacy, with no violation of Articles 14, 19, 21 or 300-A. The Master Circular and AT 1 framework were therefore sustained as intra vires and lawful. Case-Laws Indian Laws Wed, 30 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407480