Advocate Ajay Vijh's name was placed on the Indian Banks' Association's Caution List over a legal opinion the bank deemed negligent. The Supreme Court (Justices Narasimha and Aradhe) set aside his inclusion, holding a banking body cannot blacklist an advocate through such a list without due process. Beyond the individual relief, the Court directed the Bar Council of India to constitute a multi-stakeholder committee for a comprehensive performance audit of disciplinary mechanisms run by it and State Bar Councils under the Advocates Act, 1961, citing chronic pendency, delays and lack of transparency. Ten assessment factors were laid down, including disposal times and sanction patterns. The Court framed this as evidence-based reform, not blame, reasoning self-regulation must be matched with accountability; BCI must file a compliance affidavit.