Wed, 28 Sep 2022 11:12 AM IST
THE Supreme Court on Wednesday said it will hear on October 12 the pleas challenging Centre's decision to demonetise currency notes of Rs 500 and Rs 1,000.
The Constitution Bench of the Supreme Court was on Wednesday scheduled to hear the pleas against the demonetisation of currency notes in 2016 by the Prime Minister Narendra Modi government.
The Five Judge Bench hearing the matter comprises Justice Abdul Nazeer, who is heading the bench, and Justices BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna. The matter was listed for directions on September 28 2022.
One of the petitions was filed by Vivek Narayan Sharma challenging the notification dated November 8, 2016.
The court will deal with issues of whether the notification dated November 2016 go against Section 26(2) and Sections 7,17,23,24,29 and 42 of the Reserve Bank of India Act, 1934 and does the notification contravene the provisions of Article 300(A) of the Constitution.
Besides this, the court will also deal with issues of whether the notification has been validly issued under the Reserve Bank of India Act, 1934 and whether it is ultra vires Articles 14 and 19 of the Constitution and whether the limit on withdrawal of cash from the funds deposited in bank accounts has no basis in law and violates Articles 14,19 and 21.
The court will also consider whether the implementation of the impugned notification(s) suffers from procedural and substantive unreasonableness and thereby violates Articles 14 and 19 and, if so, to what effect. The top court will also deal with the scope of judicial review in matters relating to the fiscal and economic policy of the Government and whether a petition by a political party on the issues raised is maintainable under Article 32.
(With ANI inputs)