https://www.taxtmi.com/caselaws?id=433767 A statutory reconstruction scheme under section 45 of the Banking Regulation Act, 1949 governed the AT-1 bond framework, and the Information Memorandum operated subject to the RBI's Master Circular. Because the final scheme omitted any authorisation for write-off and fixed 13 March 2020 as the effective date, the Administrator could not rely on contractual clauses to order a post-reconstitution write-off. The attempted write-off was therefore outside the scheme's authority and amenable to writ review. The contractual terms had statutory flavour, so the challenge was maintainable in writ jurisdiction. en-us Fri, 20 Jan 2023 00:00:00 +0530 Thu, 09 Feb 2023 09:58:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433767 A statutory reconstruction scheme under section 45 of the Banking Regulation Act, 1949 governed the AT-1 bond framework, and the Information Memorandum operated subject to the RBI's Master Circular. Because the final scheme omitted any authorisation for write-off and fixed 13 March 2020 as the effective date, the Administrator could not rely on contractual clauses to order a post-reconstitution write-off. The attempted write-off was therefore outside the scheme's authority and amenable to writ review. The contractual terms had statutory flavour, so the challenge was maintainable in writ jurisdiction. Case-Laws SEBI Fri, 20 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433767