IAMAI had argued in the SC that the RBI circular was disproportionate. “They (Three-judge bench) have cited the ground of proportionality which is the doctrine that the fundamental right cannot be infringed upon in a disproportionate manner - in other words a measure has to be rationally connected to the ends,” said Jaideep Reddy, lawyer at Nishith Desai Associates.from Tech-Economic Times
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