New Delhi : Supreme Court Justice BV Nagaratna has said that the central government’s decision to ban currency notes is “unlawful” and the process of demonetisation should not have been started.
Justice Nagarathna expressed her strong dissent while the Supreme Court Constitution Bench upheld the decision of the central government led by Prime Minister Modi to ban currency notes with a majority of 4:1.
Terming the Centre’s notification of November 8, 2016 as “unlawful” , Justice BV Nagaratna said, “In my opinion the demonetization move through the notification of November 8 is “unlawful” . But the status quo of 2016 cannot be restored now. Demonetization is a power exercised against the law. Hence it is “unlawful” . This is not in accordance with the law.
“It is the petitioner’s contention that as per the RBI Act, the note ban recommendation should come independently from the board of the Reserve Bank of India. However, in this case, the Center wrote to the RBI on November 7 advising such a recommendation,”
