India, July 7 -- The Supreme Court on Tuesday held that the Indian Banks' Association (IBA) has no authority to publicly declare that an advocate has acted improperly by including the lawyer's name in a caution list circulated among banks and financial institutions, ruling that such declarations are "unsustainable in law" and encroach upon the exclusive disciplinary domain of the Bar Council.

A bench of justices PS Narasimha and Alok Aradhe clarified that while banks and financial institutions remain free to discontinue the services of panel advocates, the IBA cannot assume the role of adjudicating allegations of professional misconduct by publicly blacklisting lawyers.

"No public declaration regarding the conduct of an advocate can be ...