2023 SCC Vol. 3 Part 1

Debt, Financial and Monetary Laws — Monetary Laws and Norms — Demonetisation 2016 — Demonetisation of Rs 500 and Rs 1000 currency notes of existing and any older series in circulation — Decision-making process — Validity, rationality, reasonability and non-arbitrariness: Initiation of the proposal of demonetisation by the Central Government and its decision to implement it in exercise of its executive powers under S. 26(2) of the RBI Act, held (per majority), valid, rational and reasonable and not arbitrary. [Vivek Narayan Sharma (Demonetisation Case-5 J.) v. Union of India, (2023) 3 SCC 1]