Demonetisation Judgement will be given by the Supreme Court on Monday. According to the apex court cause-list — the list of business of the court, there will be two judgments, one by Justice B R Gavai and another by Justice B V Nagarathna. It remains to be seen whether these are concurring or dissenting views.
The Supreme Court will deliver Monday, the first day post its winter recess, the verdict on a batch of petitions challenging the government’s November 2016 decision to demonetise Rs 500 and Rs 1,000 currency notes.According to the apex court cause-list — the list of business of the court, there will be two judgments, one by Justice B R Gavai and another by Justice B V Nagarathna. It remains to be seen whether these are concurring or dissenting views.
A five-judge constitution bench presided by Justice S Abdul Nazeer had reserved the verdict on December 7 after hearing elaborate arguments by the petitioners, the Centre and the Reserve Bank of India (RBI). The bench, also comprising Justices A S Bopanna and V Ramasubramanian had asked the government and the RBI to produce records relevant to the decision-making process leading to the November 8, 2016 notification.
Taking up the batch of 58 petitions challenging various aspects of the government’s noteban decision, the Supreme Court had initially wondered if it had not become merely an academic debate given the passage of time. It subsequently decided to go into the issue, with the petitioners contending that the procedure prescribed in Section 26(2) of RBI Act, 1934, was given a go by.
Appearing for a petitioner, Senior Advocate P Chidambaram contended that as per the particular section, the recommendation should have “emanated” from the RBI, but in this case, the government had advised the central bank, following which it made the recommendation. He said when earlier governments had demonetised currency — in 1946 and 1978, they had done so by way of a law made by Parliament.
