The Supreme Court is scheduled to announce its verdict on the 2016 demonetization note ban decision of the Central Government, opposed by petitioners.
According to sources, on the 2nd of January, Monday, the five judge bench led by Justice S.A. Nazeer would announce the verdict, which was reserved in the last hearing, held on the 7th of December. The five member bench consisting of the Apex Court judges Justices B.R. Gavai, B.V. Nagarathna, A.S. Bopanna and V. Ramasubramanian has taken a decision in this regard after hearing 58 petitions filed against the demonetization, claiming it to be a failure of the Bharatiya Janata Party (BJP) Government.
The petitioners argued that the overnight demonetization resulted in a major economic crisis and troubled people of all classes. However, the Government of India filed a counter reply and said, the decision was taken after a thorough study and was well researched, to combat black money, tax evasion, terror financing and fake money. Furthermore, reacting to the demand of petitioners to strike down the demonetization orders, the Union Government said, the court could not grant relief into this matter and it is like, “putting the clock back” or “unscrambling a scrambled egg.”
If sources are to be believed, the judgement is said to be two separate viewpoints, which would be announced soon, on Monday.
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