Indian Court Declares XRP a Property Asset, Not for Speculation
WazirX was prohibited by a judge from reallocating client XRP connected to…
By Hardik Z.
India’s Supreme Court stands as the apex judicial body and the highest constitutional court in the Republic of India. Established on January 26, 1950, it serves as the final court of appeal for all civil and criminal cases, embodying the ultimate authority in the Indian judicial system. Comprising the Chief Justice of India and a maximum of 33 other judges, the Court wields extensive powers across original, appellate, and advisory jurisdictions.
In its original jurisdiction, the Supreme Court hears cases directly, particularly disputes between the Union Government and states, or between states themselves. Its vital writ jurisdiction under Article 32 empowers it to issue directions, orders, or writs (like Habeas Corpus or Mandamus) to enforce the fundamental rights of citizens, making it the guardian of the Constitution. The Court also exercises vast appellate jurisdiction, hearing appeals against judgments from High Courts and other tribunals across the country. Furthermore, it holds advisory jurisdiction, providing opinions to the President of India on matters of law or public importance.
Beyond these defined powers, the Supreme Court is renowned for its power of judicial review, allowing it to examine and potentially strike down legislative and executive actions that are inconsistent with the Constitution. Landmark judgments, such as the Kesavananda Bharati case that established the ‘Basic Structure Doctrine’, have significantly shaped India’s constitutional law. Its pronouncements are binding on all other courts within India, ensuring uniformity and upholding the rule of law across the nation, including within the judicial framework impacting citizens and legal matters in Surat and across Gujarat.