Over-ruling of earlier judgements - Does it have retrospective effect?
WHAT happens when a judgement of a three-member bench of the Supreme Court is overruled by a bench of five judges? Does the new judgement get retrospective effect?
After all the five judge bench is only clarifying the law and so perhaps has the effect from the beginning of law itself, but if I have been following the law as laid down by three hon'ble judges of the highest court in the country, can I be stuck with a liability because after ten years a larger bench of five judges feel that the three judges did not interpret the law correctly?