BREAKING: DEMONETISATION VALID: SUPREME COURT, JUSTICE BV NAGARATHNA DISSENTS-LIVE UPDATES
LIVELAW NEWS NETWORK
2 Jan 2023 4:58 AM GMT
- 2 Jan 2023 5:58 AM GMT
Justice Nagarathna : Demonetisation of all currency notes of Rs 500 and Rs 1000 is unlawful and vitiated. However, having regard to the fact that the notification has been acted upon, this declaration of law will act only prospectively and will not affect actions already taken
- 2 Jan 2023 5:54 AM GMT
J Nagarathna : "Any series" under Section 26(2) RBI Act cannot mean "all series".
J Nagarathna : The action of demonetisation initiated by the Central Govt as per Nov 8, 2016 notification is unlawful. But status quo ante cannot be restored at this point of time. What relief can be given now? Relief needs to be moulded.