New Delhi, December 18
Former Union Minister and Chandigarh MP Manish Tewari strongly opposed the Securities Markets Code Bill, 2025. Speaking in Parliament today, Tewari said he was opposed to the bill on the grounds that it unconstitutionally concentrates legislative, executive, investigative, adjudicatory, and quasi-judicial powers in a single authority, in clear violation of the Doctrine of Separation of Powers, resulting in institutional bias.
Among his other concerns were: “Excessive delegation of legislative functions reduces Parliament to just an enabling authority. Coercive powers exercised through delegated legislation and executive discretion do not adhere to procedural safeguards. This crosses the line from permissible delegation into application. Tribunalisation without sufficient judicial independence is inconsistent with Supreme Court rulings on tribunal jurisprudence.”
Meanwhile, on a separate issue, Tewari wrote on X: “I asked a question that was replied to in Parliament about the unfortunate crash of Air India 171 on 12 June 2025 in Ahmedabad. Despite the fact that six months have passed, we still do not know what happened or what triggered the air crash. Unfortunately, when we ask the government a serious question, they continue to obfuscate and refuse to give a clear answer. It is utterly inexplicable why the government does not want to share the truth of what happened with AI 171.”
