SC Demonetisation Judgment Today: Was demonetization right or wrong, Supreme Court will give a verdict today

Posted on 2nd Jan 2023 09:57 am by rohit kumar

SC Demonetisation Judgment Today Supreme decision will come today on the questions raised regarding demonetization done by the central Modi government in the year 2016. The Supreme Court will pronounce judgment on petitions challenging the government's decision to demonetize Rs 1,000 and Rs 500 notes in 2016.

 

Five-judge constitution bench can give a verdict unanimously

A five-judge constitution bench headed by Justice S A Nazeer is likely to pronounce its verdict on the matter when the apex court reopens after its winter break. Significantly, this bench is retiring on January 4. Whereas, according to the list of cases of the top court on Monday, this judgment will be pronounced by Justice BR Gavai and Justice BV Nagaratna, which may be different. This means that the decision will be unanimous. Besides Justices Gavai and Nagaratna, the bench comprises Justices Nazeer, AS Bopanna, and V Ramasubramanian.

 

58 people, including Chidambaram, have filed a petition against demonetization.

Terming demonetization as wrong and flawed, Congress leader and senior advocate P Chidambaram had argued that the government cannot on its initiate any resolution related to legal tender, which can only be done on the recommendation of the central board of the RBI. Explain that the court will give its verdict on 58 petitions against demonetization.

 

SC had reserved the decision on December 7

Let us tell you that on December 7 last year, after hearing the arguments of the government and the petitioners, the apex court reserved its decision. Earlier, the court had directed the central government and the Reserve Bank of India (RBI) to provide records related to the government's 2016 decision. The matter was heard by Attorney General R Venkataramani, counsel for RBI, and counsel for the petitioners, senior advocates P Chidambaram and Shyam Divan.

 

The government had given this argument

In an affidavit, the Center recently told the apex court that the demonetization exercise was a "well thought out" decision and part of a larger strategy to tackle the menace of fake money, terrorism financing, black money, and tax evasion.

 

Also Read: America will sell the anti-tank system to Taiwan, because of China's growing threat, said necessary steps

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