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Big Supreme Court Decision On Centre's Note Ban Move Today: 10 Facts
Fifty-eight petitions were filed in the Supreme Court challenging the notes ban, arguing that it was not a considered decision of the government and should be struck down by the court. The other members of the bench are Justices BR Gavai, BV Nagarathna, AS Bopanna and V Ramasubramanian. The government, he said, cannot initiate any proposal on legal tender on its own. This, he said, can only be done on the recommendation of the central board of the Reserve Bank of India (RBI). The centre was also withholding crucial documents on the decision-making process, including its letter to the Reserve Bank dated November 7 and the minutes of the meeting of the bank's central board, Mr Chidambaram argued. When the bank's counsel argued that judicial review cannot apply to economic policy decisions, the court said the judiciary cannot fold its hands and sit just because it is an economic policy decision. Source NDTV
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