Monday, December 4, 2023

Demonetisation: Supreme Court reserves judgement on petitions challenging Centre’s 2016 decision

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The Apex court has reserved its judgement on the petitions that challenged the demonetisation of currency notes of Rs.500 and Rs.1000 denominations.

A Constitution Bench comprising Justice S Abdul Nazeer, Justice BR Gavai, Justice AS Bopanna, Justice V Ramasubramanian and Justice BV Nagarathna heard arguments in a batch of 58 petitions.

A written submission has to be furnished to court by December 10.

The Union Government and the Reserve Bank of India have been instructed by the Top Court to produce the relevant records.

The Attorney General for India R Venkataramani said that the documents will be produce in a sealed cover.

The bench observed that it can examine the manner in which the decision was taken.

The bench had initially said that the issue was academic, since the decision was taken six years and no matter what it can not undo the actions.

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On October 12, the bench agreed to hear the matter on merits, after the persuasive arguments made by Senior Advocate P Chidambaram.

The bench asked the Union Government and the Reserve Bank of India to produce before it the relevant documents and files relating to the decision.

Senior Advocate P Chidambaram was from the petitioners side who opened the arguments and said that no doubt the h the effects of the decision cannot be undone, the Court should lay down the law for the future, so that “similar misadventures” are not repeated by the future governments.

Attorney General for India R Venkataramani appeared for the Union Government to defend the decision. The AG submitted that the decision was taken to curb the evils of fake currency, black money and terror funding.

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