Outraging Woman’s Modesty –Equality in Gender

 A woman can outrage the modesty of another woman! Yes, you read it right. The judgement by  Mumbai Metropolitan Magistrate MV Chavhan that the offence of outraging a woman’s modesty under Section 354 of the Indian Penal Code (IPC) can be committed either by a man or woman, is a significant shift in the paradigm.

Section 354 in The Indian Penal Code 354.  Assault or criminal force to woman with intent to outrage her modesty —Whoever assaults or uses criminal force to any woman, intending to outrage or knowing it to be likely that he will thereby outrage her modesty, shall be punished with impris­onment of either description for a term which may extend to two years, or with fine, or with both.

To the point of law, it is not the act of outraging the modesty that is made an offence under this section. To constitute an offence, there must be an assault or use of criminal force on any woman with the intention or knowledge that the woman's modesty will be outraged. It is pertinent to note that the offence under section 354 IPC is not a sexual offence, rather it falls under the Chapter Criminal Force and Assault. The offence can be committed by any man or woman with the necessary intent. A woman can assault or use criminal force on any other woman as equally and effectively as any man; and the intention or knowledge that the modesty of the woman assaulted or against whom criminal force has been used will be outraged, is of a kind which a woman on account of inherent differences from man is capable of having. The pronoun 'he' used in Section 354 of IPC 'that he will thereby outrage her modesty' must therefore be taken under section 8 of the Indian Penal Code as a male or a female. It is thus clear that under section 354 IPC, a man, as well as a woman, can be held guilty of the offence of assaulting or using criminal force on any woman with the intention or knowledge that the woman's modesty will be outraged and be punished for the offence.  

Section   354   IPC,   therefore,   operates equality upon all persons whether males or females and it cannot be maintained that women are exempted from any punishment under this section.  This is because gender equality as enshrined in the Indian Constitution implies that the duties, opportunities and rights are valued, and considered justly for men or women.

State of Maharashtra vs. Rovena @ Aadnya Amit Bhosle (C.C. No. 7000138/PW/2021 dated 22-11-2022) has set a precedent!

Ind AS Reporting Season: Risk Disclosures

The first time Ind AS adopters are having a nerve racking time in getting the pieces together for risk disclosures. The quintessential Ind AS 107 mandates disclosures which will aid the financial statement users to evaluate the nature and extent of risks arising from financial instruments and how the company manages those risks.

Like the other financial instruments standards, scope of Ind AS 107 specifies that the standard applies to ALL the entities. So the myth that risk is for the financial services entities only has to disappear sooner. This disclosure standard merely sets out the amount of information reported to the management for the purpose of running the business which must be made available to the users.

Risk Disclosures of two types are required:

§ Qualitative disclosures: Company has to provide a brief explanation of the their exposure to risk, how they arise and how these risks are measured and managed

§ Quantitative disclosures:
   o Credit risk/ Counter party risk – with information about age of the assets where the counter party has defaulted and the collateral held by the company

   o Liquidity risk – categorize the financial liabilities in maturity buckets

   o Market risk – split between Currency risk, Interest rate risk and Price risk. A sensitivity analysis   must be provided for each type of risk where the effect of let’s say a 1% shift (up/down) in the currencies/ interest rate/ prices on profit or loss and equity

Happy Disclosing!!