SC reserves order on demonetisation plea, asks Centre, RBI to present related records | India News

NEW DELHI: The Supreme Court on Wednesday asked the Centre and Reserve Bank of India to place before it the records pertaining to the 2016 demonetisation decision in a sealed envelope.
Hearing a batch of petitions challenging the Centre’s 2016 decision to ban Rs 500 and Rs 1,000 notes, a five-judge constitution bench has reserved its order on the plea.
The five-judge constitution bench headed by Justice S A Nazeer heard the submissions from Attorney General R Venkataramani, RBI’s counsel and the petitioners’ lawyers including senior advocates P Chidambaram and Shyam Divan before reserving its verdict.
“Heard. judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records,” the bench said.
The AG submitted before the bench that he will submit relevant records in a sealed cover.
The top court was hearing a batch of 58 petitions challenging the demonetisation exercise announced by the Centre on November 8, 2016.
On Tuesday, the Reserve Bank of India had backed the Centre’s 2016 demonetisation decision in the Supreme Court, saying that it was not a “thoughtless” process as contended by petitioners. It submitted that the court should refrain from scrutinising the decision for it was an economic policy decision.

Appearing before the five-judge constitution bench, also comprising of Justices B R Gavai, A S Bopanna, V Ramasubramanian and B V Nagarathna, senior advocate Jaideep Gupta had submitted that it was “an integral part of nation building” and there was unanimity on it except some people who opposed it.
(with inputs from agencies)

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