LIJDLR

Volume IV Issue I

THE LIFEBLOOD OF GOVERNANCE: A COMPARATIVE REGULATORY ANALYSIS OF PUBLIC FINANCIAL MANAGEMENT IN LIBERIA AND INDIA

Volume IV Issue I /

THE LIFEBLOOD OF GOVERNANCE: A COMPARATIVE REGULATORY ANALYSIS OF PUBLIC FINANCIAL MANAGEMENT IN LIBERIA AND INDIA William M. Johnson, BSc Economics & MBA Supply Chain Management, Apeejay Stya University School of Management Sciences (India) Sam Siryon, BA. LL. B Honors, Apeejay Stya University School of Legal Studies (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.95 Public finance is the fundamental mechanism through which governments translate political promises into tangible citizen outcomes. This article examines the critical importance of public finance in governance through comparative case studies of India and Liberia, drawing on fiscal exchange theory to analyze how digital transformation enhances state capacity. India has revolutionized its tax administration and monetary movement through a massive digital push, primarily leveraging the “India Stack” (a set of APIs) to create a transparent, fast-moving economy. Key platforms like the Goods and Services Tax Network (GSTN) and the e-filing portal facilitate real-time tax compliance, while the Unified Payments Interface (UPI) processed over 16 billion monthly transactions by late 2024, digitizing peer-to-peer and merchant transfers. Furthermore, Direct Benefit Transfer (DBT) links Aadhaar to bank accounts, removing middlemen and reducing leakages. Conversely, Liberia is digitizing its tax administration to improve revenue collection and reduce reliance on manual, cash-based systems. The Liberia Revenue Authority (LRA) is leveraging digital platforms like the Integrated Tax Administration System (LITAS) and mobile money partnerships (Orange Money/Ecobank) to make tax compliance more accessible for formal businesses and individuals, effectively shifting from multiple trips to tax offices to electronic filing and payment. This study evaluates India’s procurement guidelines; including the General Financial Rules (GFR), and Liberia’s Amended and Restated Public Procurement and Concessions Act (PPCA) of 2010, examining legal requirements for e-procurement, public disclosures, and conflict-of-interest penalties. Additionally, it analyzes the legal processes for awarding natural resource concessions in Liberia, which is crucial for economic development, compared to India’s regulatory frameworks for natural resources licensing. The Liberian case study highlights the “Yellow Machines” infrastructure initiative as an example of taxation made visible, while the Indian case examines financial management reforms and fiscal policy shifts in the energy sector. Findings suggest that digital transparency, administrative efficiency, and public engagement in financial management are essential determinants of governance effectiveness and sustainable development. The shift from cash-based to digital transactions improves accountability and reduces corruption in both jurisdictions.

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SEBI AND DATA GOVERNANCE: EXAMINING JURISDICTIONAL OVERLAPS UNDER INDIA’S DIGITAL PERSONAL DATA PROTECTION FRAMEWORK

Volume IV Issue I /

SEBI AND DATA GOVERNANCE: EXAMINING JURISDICTIONAL OVERLAPS UNDER INDIA’S DIGITAL PERSONAL DATA PROTECTION FRAMEWORK Rethiga Ramesh, Student, LLM in Business Law, Tamil Nadu Dr. Ambedkar Law University, School of Excellence in Law, Tamil Nadu, Chennai (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.94 The role of financial market authorities has changed due to the growing datafication of securities market. The securities exchange board of India (SEBI) in India now heavily depends on the mandatory know your customer (KYC) regulations, centralized registries, transaction level surveillance, algorithmic trading oversights, and digital grievance redressal system, all of which entail the large-scale collection, processing, sharing, and retention of transactional and personal data. While these practices are justified in the interests of market integrity and investor protection, they raise significant legal questions in the context of the DPDPA, which establishes a comprehensive framework for personal data protection grounded in consent, purpose limitation, data minimization, the accountability. This article addresses whether SEBI’s data intensive regulatory framework effectively positions it as a de facto data regulator, given the absence of any explicit legislation stating the same. In addition to the DPDPA and the constitutional privacy jurisprudence under justice case K.S.Puttaswamy vs union of India, this article examines SEBI rules, circulars, and surveillance in systems using a doctrinal and analytical methodology. It illustrates how SEBI has functional authority over the data life cycle insecurities markets, leading to jurisdiction overlap and conflicts between data protection law and security regulation. This article makes the case that the DPDPA assumes regulatory coexistence without offering clear institutional hierarchy or conflict resolution procedures, therefore failing to effectively handle the function of sectoral regulators. This regulatory silence risks diluting investor privacy protection, increasing compliance uncertainty for intermediaries, and undermining constitutional requirements of proportionality and democratic accountability. This article suggests a harmonized regulatory structure that acknowledges SEBI functional data governance role while incorporating strong data privacy protections, drawing on limited comparative observations from the US and the UK. It concludes that an order to meet in both market integrity and constitutional legitimacy in India’s data driven financial ecosystem, it is imperative to explain the interaction between securities regulation and data privacy laws.

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REGULATION OF SHORT SELLING AND DERIVATIVES TRADING IN INDIAN SECURITIES MARKET

Volume IV Issue I /

REGULATION OF SHORT SELLING AND DERIVATIVES TRADING IN INDIAN SECURITIES MARKET Karuna Raghuwanshi, LLM Student (Corporate Law), Hidayallutah National Law University, Raipur (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.93 The securities markets of India have undergone a slow but significant change in the regulation of short selling and derivatives trading, especially following the grand scale scams in the market and the growing integration with international financial markets. The paper presents a critical legal and regulatory overview of the framework regulating these instruments particularly the role of the “Securities and Exchange Board of India (SEBI)” as the overall market regulator. It follows the history of development of regulation, starting with the abolishment of the badla system and the creation of exchange-traded derivatives in the early 2000s and culminating in the ultimate legalization of short selling by SEBI in 2007 and subsequent amendments. The paper also discusses the current statutory and regulatory framework, such as the main provisions of the “Securities Contracts (Regulation) Act, 1956, the SEBI Act, 1992”, and some of the important SEBI circulars, which regulate securities lending and borrowing, disclosure requirements, margin requirements and enforcement mechanisms. Besides this, it also examines the regulatory reactions by using the chosen case studies and enforcement measures with special emphasis on how SEBI aims to thwart naked short selling, market manipulation, and unsuccessful settlements. The paper concludes that the regulatory framework in India generally aligns with international standards, but further reform is needed to deal with new risks that emerge as a result of algorithmic trading in India and increasing retail involvement on the trading floor.

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ANCIENT INDIAN LEGAL TEXT & CONSTITUTIONAL MORALITY

Volume IV Issue I /

ANCIENT INDIAN LEGAL TEXT & CONSTITUTIONAL MORALITY Aryan, Research Scholar (LLM), LPU School of Law, Lovely Professional University, Phagwara (PB) (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.92 This paper tries to find an inter-relation between the ancient Indian legal text and the present-day constitutional morality. Nowadays, our country is governed by the Constitution, which is also known as the grundnorm of the country, but in earlier times, that is during ancient India, there were ancient legal texts which were used to govern society and to take important decisions relating to public and private matters. It is important to look back into such earlier text and also co-relate them with the present day, constitutional text, so as to understand the law of both the periods. However, a detailed look into the ancient Indian legal text can never be ended due to the rich culture of our country, but an attempt has been made through this work so as to put forward at least some sort of analysis.

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COMPASSION WITH CONSTRAINT: A CASE COMMENT ON IN RE: “CITY HOUNDED BY STRAYS, KIDS PAY PRICE”

Volume IV Issue I /

COMPASSION WITH CONSTRAINT: A CASE COMMENT ON IN RE: “CITY HOUNDED BY STRAYS, KIDS PAY PRICE” Sagarika Singh, Research Scholar, Dr. Babasaheb Bhimrao Ambedkar University, Lucknow (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.91 The scale of dog bites in India and the transmission of deadly illness like rabies through them are the problems that appear minuscule and frequently disregarded, but in reality, are rather significant. However, at the same time inhumane treatment of voiceless animals such as dogs is also a matter of concern. The Supreme Court’s recent order on stray dogs attracted widespread attention from both those who supported the order and those who disagreed with the court. This led to a three-judge bench of the Supreme Court reconsider, recall, and modify the earlier contentious order directing the removal of stray dogs from the streets of the Delhi region and, while appreciating the underlying intent, adopting a more balanced approach in addressing the issue. Therefore, now India’s battle with stray dogs today stands at the nexus of compassion and constraint after the Supreme Court refocused the reaction to emphasize a feasible equilibrium between humane treatment of dogs and public safety. The researcher has tried to analyze the workable balance that the court has reached in the case, In Re: “City Hounded by Strays, Kids Pay Price”. The paper’s first goal is to examine the factors that led the honorable court to take up the stray dog matter suo moto. Second, to evaluate the viability of the arguments made by both the order’s defenders and the protesters. Finally, to assess the court’s position on the management of stray dogs in the National Capital Region and Delhi.

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THE DEATH PENALTY IN INDIA: JUSTICE OR RETRIBUTIVE SENTIMENT

Volume IV Issue I /

THE DEATH PENALTY IN INDIA: JUSTICE OR RETRIBUTIVE SENTIMENT Tripti Mishra, 4th year Law student, Vijaybhoomi University (India) Nandita Dubey, 3rd year Law student, Vijaybhoomi University (India) Anuradha Padhy, Associate Faculty of Law, Vijaybhoomi University (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.90 The death penalty remains one of the most divisive and morally complex issues in India’s criminal justice system. This research paper critically examines whether capital punishment serves the ends of justice or merely reflects society’s retributive instincts. Although the Supreme Court in Bachan Singh v. State of Punjab (1980) upheld its constitutionality under the “rarest of rare” doctrine, the doctrine’s inconsistent application raises serious doubts about fairness and equality before the law. The study draws on both primary data through surveys assessing public perception and secondary sources, including judicial precedents, scholarly writings, and empirical reports such as those by Project 39A and the People’s Union for Democratic Rights (PUDR). The findings reveal that a majority of respondents favor retaining the death penalty, often justifying it on grounds of deterrence and justice. However, deeper analysis suggests that such support largely stems from emotional and retaliatory impulses rather than rational belief in its deterrent value. The research also highlights how media sensationalism, political narratives, and public outrage influence judicial decision-making, often transforming justice into a performance to appease popular sentiment. Further, the disproportionate impact on marginalized and economically weaker sections exposes inherent biases within the system. The paper argues that the death penalty, as currently practiced, undermines constitutional values of dignity, equality, and due process. It concludes that India must move towards codifying clearer sentencing standards, strengthening legal aid, and eventually embracing humane alternatives such as life imprisonment without parole. In doing so, the criminal justice system would better align with global human rights principles and the evolving moral conscience of a democratic society.

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RETHINKING MENS REA & CRIMINAL LIABILITY IN THE AGE OF ARTIFICIAL INTELLIGENCE

Volume IV Issue I /

RETHINKING MENS REA & CRIMINAL LIABILITY IN THE AGE OF ARTIFICIAL INTELLIGENCE Swati Kumari, Student, 4th year student at Bharati Vidyapeeth (deemed to be university), New Law College, Pune (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.89 Artificial Intelligence has moved beyond being a mere technological aid and now performs functions that involve independent decision-making, often with serious real-world consequences. This shift raises difficult questions for penal law, particularly in relation to the requirement of mens rea. While harm caused by AI systems can usually satisfy the element of actus reus, identifying a guilty mind becomes difficult when the actor is a non-human system lacking consciousness or intent. This paper examines whether existing principles of criminal liability are capable of addressing harms caused by AI, or whether their application reveals a structural problem. It analyses the problem of legal personhood in intelligent systems and evaluates different approaches to liability, including perpetration through another, natural and probable consequences, and direct liability of AI. using real incidents involving autonomous vehicles and AI-driven decision making, the paper argues that attributing criminal responsibility directly to AI risks weakening the moral basis of criminal law. Instead, it supports a framework that places responsibility on human actors involved in the design, deployment, and supervision of AI systems, while emphasising the need for preventive regulation to address emerging risks.

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COMPULSORY LICENSING AND ACCESS TO GENERIC MEDICINES IN INDIA: A CRITICAL STUDY

Volume IV Issue I /

COMPULSORY LICENSING AND ACCESS TO GENERIC MEDICINES IN INDIA: A CRITICAL STUDY Vanshika Jakhar, LLM (IP) Student at Amity University Noida, Uttar Pradesh (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.88 The affordability of medications is a critical social health concern in the developing world, and India uniquely straddles the realms of pharmaceutical advancement and social welfare. India has traditionally been recognized as a source nation for the production of generic drugs and the supply of these affordable medications to both domestic and international markets. However, this stance often conflicts with the notion of intellectual property (IP) protection, particularly in the realm of patent law. This research paper offers a critical examination of the concept of compulsory licensing (CL) as a legal and policy tool to balance the right to patent with the fundamental right to health. Mandatory licensing as per the provisions of the Indian Patents Act permits the government or designated entities to produce patented drugs without the consent of the patent owner under certain conditions, such as public health crises, unaffordability, or inadequate supply. Despite being recognized under international regulations like TRIPS, its application remains a political concern and a legal challenge. This study explores the evolution of CL in India, highlighting significant cases such as the Natco-Bayer case.

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GLOBAL ARTIFICIAL INTELLIGENCE GOVERNANCE: A COMPARATIVE LEGAL ANALYSIS OF APPROACHES BY SELECT COUNTRIES

Volume IV Issue I /

GLOBAL ARTIFICIAL INTELLIGENCE GOVERNANCE: A COMPARATIVE LEGAL ANALYSIS OF APPROACHES BY SELECT COUNTRIES Arya Sudhir Nikam, LLM in International Business Law, Kings College London, England Download Manuscript doi.org/10.70183/lijdlr.2026.v04.87 AI has in a relatively short time turned the world economic systems, governments, and social relations inside out, providing more opportunities for innovations and, at the same time, introducing complicated legal, ethical, and regulatory problems. With the continued amounts of AI technologies penetrating key industries including healthcare, finance, security, and state management, governments have to grapple with the implementation of efficient governance structures that are able to provide accountability, transparency and responsible technological advancement. This has led to the development of fragmented global AI governance where various jurisdictions have taken dissimilar methods of governance of AI depending on their institutional priorities, technological capabilities, and political systems. This research paper reviews the changing dynamics of the global governance of AI by comparing the legislation of the chosen jurisdiction, such as the European Union, the United States, China, India. The research design is a qualitative doctrinal research design and comparison with legal analysis to assess the major regulatory frameworks, policy initiatives, and institutional mechanisms regulating artificial intelligence. Specific focus is put on regulatory philosophies, enforcement tools, ethical protection and model-based risk-based governance which inform national AI governance practices. The results demonstrate that even though the principles of transparency, accountability, and risk management are common in most countries, their regulatory systems vary greatly. European Union has stressed a comprehensive regulation based on rights, United States has stressed an innovation driven regulation, China has a centralized state-centered approach and India is an emerging hybrid system which lays emphasis on policy direction and digital growth. The diversities underscore the difficulties of creating unified international regulatory frameworks of AI governance. The paper concludes that the successful regulation of AI globally will necessitate more international collaboration, common technical standards, and harmonized legal policies that have the ability to balance technological innovation and ethical and societal protection.

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DIGITALIZATION OF ARBITRATION IN INDIA: CONSTITUTIONAL SAFEGUARDS, DUE PROCESS, AND THE RISE OF ONLINE DISPUTE RESOLUTION

Volume IV Issue I /

DIGITALIZATION OF ARBITRATION IN INDIA: CONSTITUTIONAL SAFEGUARDS, DUE PROCESS, AND THE RISE OF ONLINE DISPUTE RESOLUTION Vaibhav Pandey, Student, 6th Semester pursuing BBA LL.B (Hons) at Amity Law School, Amity University Uttar Pradesh, Lucknow (India) Download Manuscript doi.org/10.70183/lijdlr.2026.v04.86 In India, the digitisation of arbitration shows a major shift towards modernising how disputes are resolved through arbitration, creating new and important questions regarding how these digital processes comply with the Constitution of India and whether they are fair. The Arbitration and Conciliation Act of 1996 has traditionally governed arbitration, but many courts now use technology to implement virtual hearings, e-filing, and Online Dispute Resolution (ODR) to administer their dispute resolution processes more quickly and efficiently, particularly as a result of the COVID-19 pandemic. The paper compares digital arbitration against both the current statutory and legal frameworks and technology trends to better understand how digital arbitration fits within the overall context of the Constitution, and how digital arbitration is governed by the rights and protections in Articles 14, 19, and 21. This study seeks to evaluate if digital arbitration respects the principles of equality, due process, and natural justice; in addition to examining the continued concerns of the digital divide, privacy of data, and enforcement against ODR mechanisms. Key research questions shape the inquiry regarding the fairness of virtual hearings, the accessibility of technology-based dispute resolution systems, and whether technology-based dispute resolution systems comply with the constitution. The study employs a doctrinal and comparative research methodology, analysing statutory law, judicial precedents, policy reports, and studies from other countries. The findings of the study suggest that while digital arbitration improves efficiencies, cost-effectiveness, and access to justice, it also creates new structural and constitutional threats. The conclusion of the paper advocated for a rights-based approach to the development of regulations which incorporate procedural protections, cybersecurity standards, and inclusiveness in order to promote that technological innovation remains consistent with the spirit of the Constitution.

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