DEMONETISATION Valid Or Not? : Supreme Court Constitution Bench Hearing- LIVE UPDATES

Chidambaram: Demonetisation must be held to a much higher standard. If there is one major economic decision taken in last 10-20 years which affected the lives of all citizens, it is demonetisation.

Chidambaram concludes.

Bench rises.

Chidambaram: The mildest step would have been to stop issuing certain currency notes. The second option was to replace the currency already issued with new notes w better security features. The third and most extreme is demonetisation.

Chidambaram: I have to conclude by saying that there is no evidence that they examined any alt methods to deal w the problem of fake currency, etc. Demonetisation is an extreme step.

Chidambaram, relying on lead judgement of Sikri J in the 2018 Aadhar constitutionality case.

"Rules are disproportionate - a mere ritualistic incantation of “money laundering”, “black money” does not satisfy the first test," he quotes.

5. K.S. Puttaswamy v Union of India [(2019) 1 SCC 1]

6. Sukhnandan Saran Dinesh Kumar v Union Of India [(1982) 2 SCC 150]

BVN J: You must appreciate this judgement because it reads like a movie plot and ends with a climax.

Nazeer J says something to VR J, who reveals, "My brother is saying, will there be a Baahubali 2?"

(Everyone laughs)

4. Internet & Mobile Assn. of India v Reserve Bank of India [(2020) 10 SCC 274]

"This is Justice V Ramasubramanian's decision on cryptocurrency."

4. Lt. General Manomoy Ganguly Vsm v Union of India [(2018) 18 SCC 83]

"Court can ensure all relevant factors are taken into consideration and, no irrelevant considerations have crept in in the decision-making process," Chidambaram quotes.

3. Centre for Public Interest Litigation v Union of India [(2012) 3 SCC 1]

"What is the procedure the Minister followed, and that procedure was found to be improper."

Chidambaram takes the court through a number of judgements on the power of judicial review.

1. Tata Cellular v Union Of India [AIR 1996 SC 11]

2. Uttamrao Shivdas Jankar v. Ranjitsinh Vijaysinh Mohite Patil [(2009) 13 SCC 131]