New Delhi: The Supreme Court has ruled that the demonetisation action brought by the central government in 2016 will go ahead. It has been reported that 4 of the 5-judge constitutional bench has given a different verdict on central government’s demonetisation and one judge has given a different verdict. All 58 cases against the action of the central government have been dismissed. While the gist of the verdict is now out, the full verdict is expected to be released by this evening.
Case Background: In November 2016, the central government announced that Rs 500 and Rs 1,000 notes will no longer be valid. This move by the central government has removed crores worth of Indian rupees from circulation overnight. However, demonetisation was not a well thought out decision. Therefore, 58 cases were filed in the Supreme Court against the action of the central government that the court should cancel it.
These cases were heard by Judge S.A. A 5-person constitutional bench headed by Naseer inquired. A five-judge constitutional bench comprising Justices P.R.K., P.V. Nagaratna, A.S. Bopanna, and V. Ramasubramanian were the members. The bench heard all the arguments on December 7 last year before the winter vacation of the court and reserved its verdict. In this case, the Constitutional Bench of the Supreme Court delivered its verdict today. In it, it has been stated that demonetization will be done by the central government