What happened (Supreme Court’s decision on retrospective green bond rules)

A Supreme Court-related report says the Supreme Court struck down a Centre order that sought retrospective application of green bond rules.

The Supreme Court’s decision also provided a limited route for exceptions for retrospective application through specified conditions. In practice, retrospective application is not treated as an automatic or blanket outcome; it depends on satisfying the conditions mentioned by the Supreme Court in the reported outcome.

Background and earlier position (retrospective intent in the Centre order)

The Centre order aimed to apply green bond rules to earlier periods. Supreme Court judicial review rejected the retrospective operation as a general regulatory approach, while leaving scope for exceptions when legally justified through specified conditions.

What changed now (legal effect of striking down retrospective operation and scope of exceptions)

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