The Supreme Court today upheld the legality of the demonetisation process.
The Supreme Court today upheld the demonetisation of Rs 1,000 and Rs 500 currency notes. Justice BV Nagarathna dissented as the four other judges of the five-judge bench ruled in favour of the Centre's 2016 exercise.
Here are the top 5 quotes of the Supreme Court:
- It is not relevant whether the objective was achieved or not.
- We have held that there was a reasonable nexus with the objectives sought to be achieved.
- The decision-making process cannot be faulted merely because the proposal emanated from the Centre.
- Demonetisation exercise cannot be struck down on the grounds of proportionality.
- The period prescribed of 52 days for the exchange of notes cannot be said to be unreasonable.
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