NEW DELHI: The Supreme Court on Monday upheld the government’s 2016 decision to demonetise the currency notes of Rs 1,000 and Rs 500 denominations.
A five-judge constitution bench headed by Justice S.A. Nazeer and comprising Justices B.R. Gavai, A.S. Bopanna, V. Ramasubramanian, and B.V. Nagarathna pronounced the judgment on a clutch of petitions challenging the Centre’s 2016 decision to demonetise currency notes.
Howver, Justice B.V. Nagarathna differed with the majority verdict. Here is what Justice Nagarathna said:
A five-judge constitution bench headed by Justice S.A. Nazeer and comprising Justices B.R. Gavai, A.S. Bopanna, V. Ramasubramanian, and B.V. Nagarathna pronounced the judgment on a clutch of petitions challenging the Centre’s 2016 decision to demonetise currency notes.
Howver, Justice B.V. Nagarathna differed with the majority verdict. Here is what Justice Nagarathna said:
- Parliament should have discussed law on
demonetisation , process should not have been done through gazette notification - No independent application of mind by RBI, only opinion sought which cannot be said to be recommendation
- Demonetisation of Rs 500 and Rs 1,000 currency notes was vitiated, unlawful.
