Live Breaking News & Updates on High Denomination Bank Notes Demonetisation

New Delhi, Oct. 12 (PTI): The Supreme Court said on Wednesday it is aware of the “Lakshman Rekha” on judicial review of government policy decisions but will have to examine the 2016 demonetisation decision to decide whether the issue has become a mere “academic” exercise. A five-judge bench headed by Justice S A Nazeer said when an issue arises before a constitution bench, it is its duty to answer. Attorney General R Venkataramani submitted that unless the Act on demonetisation is challenged in a proper perspective, the issue will essentially remain academic. The High Denomination Bank Notes (Demonetisation) Act was passed in 1978 to provide in public interest for demonetisation of certain high denomination bank notes in order to check illicit transfer of money harmful to the economy which such currency notes facilitate. The top court said in order to declare whether the exercise is academic or infructuous, it needs to examine the matter since both sides are not ....

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