Latest Development in Demonetization case before Supreme Court

Hon’ble Supreme Court heard further arguments of both the sides in the petition pertaining to the Demonitization of Rs. 500 and Rs. 1000 notes. The process of hearing continued for more than 1 hour and it was heard by the bench consisting of Hon’ble Chief Justice, Justice A.M.Khanwilkarand D.Y. Chandrachur.

The case will now be further heard on 14 December 2016 where court will frame the issues to be heard.

Hon’ble Bench enquired about the interim measures that could be taken by the Government during the pendency of this matter.

Senior Advocate Kapil Sibbal and Attorney General Mukul Rohatagi Suggested Following issues which court could consider for framing the issues for final hearing.

The court noted the following issues raised by the parties:

Whether the notification of November 8 is ultra views Section 26(2) of the RBI Act.

Whether the notification of November 8 and all subsequent notifications is contrary to Article 300A.

Assuming that the notifications have been issued validly under S. 26(2), whether it falls foul of Articles 14 and 19(1)(g).

Whether restrictions on withdrawal of money has any basis and whether it violates Articles 14, 19 and 21.

Whether the manner in which the notification is sought to be implemented is “procedurally unreasonable”.

Whether District Co-operative Banks have been discriminated against by excluding them from accepting deposits, exchanging old notes and denying withdrawal of money.

What is the scope of judicial review in a matter touching fiscal/economic policy?

Whether Section 26(2) amounts to excessive delegation of powers and is therefore ultra vires the Constitution.

Whether a petition by political party on the issue is maintainable under Article 32.

Whether Devanagari numerals can be used on currency notes.

Whether the impugned notification is violative of Sections 7, 23, 24, 29 and 42 of the RBI Act.

The court will now frame the issues to be heard in the case, taking into account the above suggestions.

The Bench also asked Attorney General Rohatgi about interim measures that could be adopted to alleviate the difficulties faced by people. Chief Justice Thakur said,

“We would like to hear the parties regarding interim measures that could be taken while the matter is being heard without affecting the larger object you had in mind.”

Everybody is now looking eagerly for 14 December 2016 when next hearing of this matter will take place especially in light of this fact that Hon’ble Chief Justice is retiring on January 3rd 2017.

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