• Supreme Court to pronounce verdict on pleas against demonetisation today; Know the key points

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    Supreme Court to pronounce verdict on pleas against demonetisation today; Know the key points
    Justices A S Bopanna, V Ramasubramanian, and Justices Nazeer, Gavai, and Nagarathna will join the other three judges in the five-judge panel.

    Digital Desk: The Supreme Court will pronounce its judgment on Monday on a slew of pleas challenging the government's 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denominations.

    On January 2, when the Supreme Court reopens after its holiday recess, a five-judge Constitution bench led by Justice S. A. Nazeer, who will retire on January 4, is expected to deliver its decision.

    The matter will receive two different judgments, which will be delivered by Justices B R Gavai and B V Nagarathna, according to the high court's cause list from Monday. The two opinions may concur or may dissent, it is unclear.

    Justices A S Bopanna, V Ramasubramanian, and Justices Nazeer, Gavai, and Nagarathna will join the other three judges in the five-judge panel.

    The top court reserved judgement after ordering the Centre and the Reserve Bank of India (RBI) to record all pertinent documents about the government's 2016 decision.
    Attorney General R. Venkataramani, the RBI's attorney, and the petitioners' attorneys, including prominent attorneys P. Chidambaram and Shyam Divan, presented their cases.

    Chidambaram had claimed that the government cannot on its launch any proposal relating to legal tender, which can only be done on the suggestion of the RBI's central board. He had called the elimination of the Rs. 500 and Rs. 1,000 currency notes extremely flawed.
     
    The government had resisted the supreme court's attempt to review the 2016 demonetisation process, arguing that the court cannot make a decision when no concrete remedy can be provided by "turning back the clock" and "unscrambling a scrambled egg."
     
    The RBI had previously acknowledged in its arguments that there were "temporary hardships" and that such were also a necessary component of the process of developing a nation, but that there was a mechanism through which the issues that emerged were resolved.
     
    The Centre recently informed the top court in an affidavit that the decision to implement demonetisation was "well-considered" and was a part of a bigger plan to address the threat of fake money, terror financing, black money, and tax evasion.
     
    A set of 58 petitions contesting the demonetisation initiative announced by the Center on November 8th, 2016 have been heard by the Supreme Court.







     
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