The Supreme Court today ruled that demonetisation was valid. Details awaited.
The court is hearing a batch of petitions challenging the Union Government’s 2016 decision to demonetise the currency bills of Rs 500 and Rs 1,000 denominations.
Supreme Court holds that the notification dated November 8, 20216, which announced demonetisation, cannot be struck down on the ground of decision making process.
The notification dated November 8, 2016 is valid and satisfies the test of proportionality.
Gold Rate
Saturday 22 Feb. 2025
A Constitution Bench of Justices S Abdul Nazeer, BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna is hearing the case.
The pleas have challenged the Centre’s move of November 8, 2016.
The apex court had reserved its judgments on the batch of 58 petitions on December 7.
There was consultation between RBI, Centre on demo: SC
Update on the SC verdict on demonetisation: The Supreme Court says there was consultation between the Centre and the RBI before demonetisation. There was a reasonable nexus to bring such a measure, and we hold that demonetisation was not hit by doctrine of proportionality, says the bench. The court says RBI does not have any independent power to bring in demonetisation and the decision was taken after the consultation between the Centre and RBI.
