{"id":225,"date":"2023-01-02T17:02:05","date_gmt":"2023-01-02T17:02:05","guid":{"rendered":"https:\/\/freshily.co.in\/?p=225"},"modified":"2023-03-13T08:37:38","modified_gmt":"2023-03-13T16:37:38","slug":"supreme-court-demonetization-case","status":"publish","type":"post","link":"https:\/\/freshily.co.in\/?p=225","title":{"rendered":"Supreme Court Demonetization Case"},"content":{"rendered":"

WHAT IS DIVISION OF STATE INTO REVENUE AREAS?<\/a>\"\"<\/h1>\n

Supreme Court Demonetization Case Verdict Live <\/a><\/h1>\n

Updates: BJP slams Congress over its campaign<\/h1>\n

against note ban, Congress hits back<\/h1>\n

Demonetisation Case Order Live Updates:\u00a0<\/strong>Following the Supreme Court\u2019s verdict on Monday upholding the demonetisation move by the Central government in 2016, the Bharatiya Janata Party launched a scathing attack on the Congress and its former president Rahul Gandhi. Former Union Minister and senior BJP leader Ravi Shankar Prasad\u00a0asked if the Wayanad MP would apologise<\/strong><\/a>\u00a0to the nation now for his \u2018campaign against the demonetisation scheme\u2019. Hitting back, the Congress and the Nationalist Congress Party (NCP) said the BJP government at the Centre cannot absolve itself of blame for the distress the people of the country suffered due to the decision to scrap high-value currency notes.<\/p>\n

Demonetisation Valid, Supreme Court Holds By 4:1 <\/strong><\/a><\/h1>\n

Majority; Justice Nagarathna Dissents<\/strong><\/a><\/b><\/h1>\n

#AIMIM chief Owaisi dares BJP to celebrate ‘Demonetisation Day’<\/p>\n

#Pratap Bhanu Mehta writes | Demonetisation verdict: Six years later, farce after tragedy<\/p>\n

#Circulation of fake currency notes continues to pose challenge<\/p>\n

#Wrong to say SC has upheld demonetisation, verdict does not deal with outcomes: Congress<\/p>\n

#SC did not say demonetisation was right: CPI (M) General Secretary Sitaram Yechury<\/p>\n

#Demonetisation: Cong, NCP slam Centre, says 2016 move hit economy, hurt people<\/p>\n

Demonetisation Was Valid, Says Supreme Court, 1 <\/strong><\/a><\/h1>\n

Judge Disagrees: 10 Facts<\/strong><\/a><\/h1>\n

 <\/p>\n

Here are top 10 points on this big story<\/a><\/h2>\n

A constitution bench said the central government’s November 8, 2016 order to ban\u00a0\u20b9\u00a01,000 and\u00a0\u20b9\u00a0500 currency notes is valid and the decision-making process could not be faulted just because the Centre initiated the move.<\/p>\n

The Centre, said the court, is required to act in consultation with the Reserve Bank of India (RBI) and there is an “inbuilt safeguard”. This consultation did take place for six months, four of the five judges said.<\/p>\n

It is “not relevant” whether the objective was achieved or not,\u00a0the Supreme Court ruled<\/a>,\u00a0adding that the period of 52 days given to exchange the banned notes was not unreasonable. “There has to be great restraint in matters of economic policy. Court cannot supplant the wisdom of executive with its wisdom,” said Justice BR Gavai, reading out the order.<\/p>\n

    \n
  1. In a strong dissenting judgment,\u00a0Justice BV Nagarathna\u00a0<\/a>called the notes ban initiated by the Centre “vitiated and unlawful” but said status quo could not be restored now. The move could have been executed through an act of Parliament, said the judge.<\/li>\n
  2. The demonetisation order was “an exercise of power contrary to law and unlawful”, said the judge, noting that the entire exercise was carried out in 24 hours.<\/li>\n
  3. “The problems associated with demonetisation make one wonder whether the central bank had visualised these,” said Justice Nagarathna.<\/li>\n
  4. She said documents and records submitted by Centre and the RBI, which included phrases like “As desired by the Central Government”, show there was “no independent application of mind by the RBI”.<\/li>\n
  5. Some 58 petitions challenged the Centre’s decision to ban \u20b91,000 and \u20b9500 currency notes overnight. \u20b910 lakh crore was wiped out of circulation by the move.<\/li>\n
  6. Petitions argued that it was not a considered decision and caused immense hardships to millions of citizens, who were forced to queue up for cash.<\/li>\n
  7. The government had argued that the court cannot decide on a case when no tangible relief can be granted. It would be like “putting the clock back” or “unscrambling a scrambled egg”, the centre said. It also said demonetisation was a “well-considered” decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion.<\/li>\n
  8. Supreme Court Demonetization Case<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    WHAT IS DIVISION OF STATE INTO REVENUE AREAS? Supreme Court […]<\/p>\n","protected":false},"author":1,"featured_media":226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"link","meta":{"two_page_speed":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,1],"tags":[34,35,33,36],"class_list":["post-225","post","type-post","status-publish","format-link","has-post-thumbnail","hentry","category-law","category-law-for-all","tag-demonetisation","tag-judje","tag-supreme-court","tag-disagrees","post_format-post-format-link"],"yoast_head":"\nSupreme Court Demonetization Case - freshily.co.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/freshily.co.in\/?p=225\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Supreme Court Demonetization Case - freshily.co.in\" \/>\n<meta property=\"og:description\" content=\"WHAT IS DIVISION OF STATE INTO REVENUE AREAS? 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