New Delhi: The Supreme Court will hear a plea filed in 2016 challenging the centre’s demonetisation decision on Wednesday.
The five-judge bench of Justice V Ramasubramanian, Justice BR Gavai, Justice Abdul Nazeer, Justice AS Bopanna, Justice BV Nagarathna will hear the case.
The BJP-led central government in 2016 decided to demonetise Rs 1,000 and Rs 500 currency notes.
Vivek Narayan Sharma, one of the petitioners, challenged the notification dated November 8, 2016.
According to news agency ANI, the court will deal with issues of whether the notification dated November 8, 2016 is ultra vires 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 report said.
The apex 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.