5-judge bench on demonetisation |
The Supreme Court has referred the issue of validity of the government`s demonetisation decision to a five-judge bench.The top court, however, refused to tinker with the move to do away with the use of now-defunct high-value currency notes for public utilities, in government hospitals and for rail tickets.The apex court framed nine issues for adjudication by the five-judge Constitution Bench for authoritative pronouncement on the government`s demonetisation decision. The bench would decide (i) Whether the notification dated 8th November 2016 is ultra vires ;(ii) Does the notification contravene the provisions of Article 300(A) of the Constitution;(iii) Assuming that the notification has been validly issued under the Reserve Bank of India Act, 1934 whether it is ultra vires (iv) 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;(v) Whether the implementation of the impugned notification(s) suffers from procedural and/or substantive unreasonableness and thereby violates Articles 14 and 19 and, if so, to what effect? (vi) In the event that Section 26(2) is held to permit demonetization, does it suffer from excessive delegation of legislative power thereby rendering it ultra vires the Constitution;(vii) What is the scope of judicial review in matters relating to fiscal and economic policy of the Government;(viii) Whether a petition by a political party on the issues raised is maintainable under Article 32 ;(ix) Whether District Co-operative Banks have been discriminated against by excluding them from accepting deposits and exchanging demonetized notes.
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