SC to pronounce verdict on pleas challenging Centre's demonetisation policy

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The Supreme Court on Monday is scheduled to pronounce its verdict on a batch of petitions challenging the Union Government's 2016 decision to demonetise the currency bills of Rs 500 and Rs 1,000 denominations.

A Constitution Bench of Justices S Abdul Nazeer, BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna will pronounce the judgement as the court reopens.

The pleas have challenged the Centre's move of November 8, 2016.

The apex court had reserved its judgments on the batch of 58 petitions on December 7.

Also Read: Opposition parties term demonetisation as 'economic genocide', 'criminal act'

Earlier, it had asked the Centre and Reserve Bank of India to place before it the records pertaining to the 2016 demonetisation decision in a sealed envelope.

It had said that it has the power to examine the manner in which the decision for demonetisation was taken adding that "the judiciary cannot fold its hands and sit just because it is an economic policy decision".

The top court's remarks came when the Reserve Bank of India counsel made the submission that judicial review cannot apply to economic policy decisions.

The RBI had told the apex court about the objective of the demonetisation policy to curb black money and fake currencies.

Attorney General R Venkatramani had said that the economic policy of demonetisation was connected to a social policy where three evils are attempted to be addressed. (ANI)