 "Supreme Court")
The Supreme Court on Monday held the demonetisation of high-value currency notes in November 2016 valid. The Constitutional bench comprising justices S Abdul Nazeer, BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna said the notification for the exercise was valid and satisfied the test of proportionality. Justice Nagarathna, however, disagreed.
Reading the judgement, Justice Gavai said, "There was consultation between the Centre and the RBI for a period of 6 months. We hold that there was a reasonable nexus to bring such a measure, and we hold that demonetisation was not hit by the doctrine of proportionality."
He added, "Decision-making process
