"The doctrinal error in the Krishna Iyer approach was, postulating a rigid economic theory, which advocates for greater State control over private resources, as the exclusive basis for constitutional governance," the CJI wrote in the 193-page judgment.
Justice BV Nagarathna also partially agreed with the majority verdict but criticised the CJI's views on Justice Iyer's judicial approach in dealing with "material resources" and state's power over them.
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
'It has changed the political character of India by ejecting socialism as an ideology from the Constitution of India.'
'The ruling does not automatically mean that your house can be taken away, but suppose it blocks an expressway or a highway or such essential development, then it can be taken away as long as there is a law to support that action.'
Former Supreme Court judge Justice V R Krishna Iyer, who had launched a scathing attack on Congress general secretary Rahul Gandhi, on Monday sent an apology letter to him.
It is not just the weak who are harmed by the judicial process's failure to grant bail. Any high profile person can be made to spend weeks in jail while the arresting authority shouts and preens for the TV cameras, says Vir Sanghvi.
His approach to issues once prompted jurist Fali S Nariman to declare, 'When Krishna Iyer speaks, the nation listens.'
'Constitutional narratives are forged both inside and outside courtrooms,' says Rohit De.
'My association with Justice Krishna Iyer was special,' the prime minister said, mourning the judge's death. 'My mind goes back to our conversations and the insightful letters he would write to me.'
'I rejoice in the fact that Justice Iyer has left a legacy, after all, legacies no not reside in brick and mortar, but in living humans and there are many of us who have followed in his footsteps and continue to do so.' Former additional solicitor general Indira Jaising salutes the legendary Justice V R Krishna Iyer who passed into the ages last week, the judge who restored her faith in the Supreme Court of India.
'By transferring the case to the NIA without the Maharashtra government's consent clearly indicates they want to play mischief.'
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