Lagatar24 Desk
New Delhi, Dec 7: The Supreme Court on Wednesday reserved judgment on a batch of petitions challenging the taken by the Union Government six years ago to demonetise the currency notes of Rs. 500 and Rs.1000 denominations.
Arguments in a group of 58 petitions were heard by a Constitution Bench made up of Justices S Abdul Nazeer, BR Gavai, AS Bopanna, V Ramasubramanian, and BV Nagarathna. By December 10, the bench permitted parties to submit written arguments.
The Union Government and the Reserve Bank of India were both ordered by the court to turn over the pertinent documents. R Venkataramani, India’s attorney general, stated that the papers would be presented under a sealed cover.
The bench had stated during the hearing that it could look into how the decision was made and that it would not fold its hands just because it was an economic policy decision.
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Given that the decision had been made six years prior, the bench had first deemed the matter to be ‘academic’ and questioned whether it could reverse the proceedings. On October 12, however, the court decided to hear the case on the merits following Senior Advocate P Chidambaram’s compelling arguments. The bench demanded that the Union Government and the Reserve Bank of India bring the pertinent records and files pertaining to the decision before it.
