The Supreme Court Monday upheld the Centre’s decision to demonetise Rs 500 and Rs 1000 currency notes in November 2016. A bench constituting five judges pronounced the verdict on 58 petitions challenging the Centre’s decision, and asserted that the notification did not suffer from any flaw and satisfied the proportionality test. The apex court upheld the decision taken by the Central Government six years ago to demonetise these currency notes in a 4:1 majority judgement.

The apex court, in its verdict, held that:

Justice Nagarathna, who differed from Justice Gavai, held the demonetisation of Rs 500 and Rs 1000 currency notes had to be done through legislation, and not through a gazette notification. She said:

With inputs from LiveLaw, Bar and Bench