LIJDLR

Constitutional Law

REGULATORY INNOVATION OR LEGAL EROSION? INVESTIGATING THE ACCIDENTAL ARBITRAGE CREATED BY GIFT CITY’S DUAL FINANCIAL REGIME

Volume III Issue II /

REGULATORY INNOVATION OR LEGAL EROSION? INVESTIGATING THE ACCIDENTAL ARBITRAGE CREATED BY GIFT CITY’S DUAL FINANCIAL REGIME Devesh, Fourth Year B.Com LL.B. (Hons.) Student at Institute of Law, Nirma University, Ahmedabad Radhika Dinesh, Fourth Year B.Com LL.B. (Hons.) Student at Institute of Law, Nirma University, Ahmedabad Download Manuscript doi.org/10.70183/lijdlr.2025.v03.54 This paper provides a comprehensive analysis of the legal and constitutional ramifications arising from establishing and operating the Gujarat International Finance Tec-City (GIFT City) and its International Financial Services Centre (IFSC). Conceived as a flagship initiative to position India as a global financial hub, GIFT City offers a suite of regulatory exemptions, tax incentives, and operational flexibilities designed to attract international capital and financial institutions. However, the paper argues that these exceptional measures have created a parallel regulatory regime that contrasts India’s unified financial architecture. Through doctrinal and comparative legal analysis, the authors explore how GIFT City’s unique framework facilitates regulatory arbitrage, enabling entities to bypass domestic regulations related to taxation, capital controls, and insolvency. The paper highlights the risks of forum shopping, tax base erosion, and the dilution of investor and creditor protections, drawing on both Indian and international precedents. It further examines the constitutional questions raised by the selective privileges granted to GIFT City entities, particularly about the principles of equality before law, fiscal federalism, and the separation of powers between the legislature and the executive. The study also assesses the broader policy implications of allowing such regulatory enclaves within the Indian legal system, including potential impacts on market integrity, regulatory coherence, and public accountability. In conclusion, the paper offers targeted policy recommendations to reconcile GIFT City’s operational objectives with India’s constitutional and regulatory commitments. These include enhancing transparency, instituting robust economic substance requirements, and ensuring integrated oversight by domestic regulators to prevent the emergence of enclave exceptionalism and to safeguard the integrity of India’s financial and legal systems.

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EXPANDING ROLE OF MEDIA ON INDIAN DEMOCRACY IN 21ST CENTURY: A CRITICAL STUDY

Volume III Issue I /

EXPANDING ROLE OF MEDIA ON INDIAN DEMOCRACY IN 21ST CENTURY: A CRITICAL STUDY Yuvraj Singh, 10th semester Student of BA.LLB(H) at Amity Law School, Amity University, Lucknow, India. Dr. Reshma Umair, Assistant Professor at Amity university Lucknow Campus. Download Manuscript doi.org/10.70183/lijdlr.2024.v03.38 Media shapes Indian democracy through relentless engagement with politics, people, and governance. Its role evolved beyond information to mobilisation, accountability, transparency, and citizen empowerment. “Article 19(1)(a) of the Indian Constitution ensures freedom of speech and expression for the press”. Courts have repeatedly reaffirmed media’s centrality to democratic dialogue and constitutional accountability. In “Romesh Thappar v. State of Madras, Supreme Court” held press freedom is essential. The transition from print and radio to television and digital platforms altered democratic discourse. Social media platforms became instrumental in influencing public opinion, elections, and policymaking. They act both as tools for participation and sources of disinformation and manipulation. The 2014 and 2019 Lok Sabha elections showcased social media’s unprecedented political outreach. Yet, excessive media trials have distorted justice as seen in “Manu Sharma v. State (NCT of Delhi)”. While media uncovers corruption, it also succumbs to paid news, TRP wars, and political allegiance. Regulatory frameworks like the “Press Council Act, 1978, and Cable TV Networks Act, 1995,” lack sharp enforcement. The IT Rules, 2021 raised concerns over chilling effects on free speech and editorial freedom. India needs urgent legislative clarity and judicial review of digital regulation under constitutional scrutiny. Democratic ideals demand that media remain free, factual, ethical, and representative of public conscience. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume III, Issue I, Page 933-959. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. © Authors, 2024

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AI AND THE RIGHT TO PRIVACY – BALANCING INNOVATION WITH CONSTITUTIONAL PROTECTIONS

Volume III Issue I /

AI AND THE RIGHT TO PRIVACY – BALANCING INNOVATION WITH CONSTITUTIONAL PROTECTIONS Rama Dutt, Assistant professor, Harlal School of Law, Greater Noida Download Manuscript doi.org/10.70183/lijdlr.2024.v03.37 This research paper examines the evolving intersection of artificial intelligence (AI) and the right to privacy, focusing on how legal systems can reconcile rapid technological innovation with constitutional protections. The paper analyzes key legal frameworks, landmark judgments, and emerging regulatory approaches to AI globally. It also highlights the ethical implications of surveillance technologies, facial recognition, and predictive algorithms. The study concludes by proposing legal reforms and policy strategies to ensure responsible AI deployment that respects fundamental rights. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume III, Issue I, Page 920-932. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. © Authors, 2024

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