Karnataka HC rejects PIL challenging demonetisation

The Karnataka High Court today rejected a PIL challenging the demonetisation and seeking directions to the central government to withdraw its decision of declaring Rs 500 and Rs 1000 as invalid, observing that the move was a "masterstroke" and "good" for the economy.
Pronouncing the order, a division bench comprising Chief Justice S K Mukherjee and Justice R B Budihal observed the step taken by the central government was laudable as it has put a check on black, illegal and fake money.
"The central government's move of demonetisation is a good step as it has checked the circulation of illegal, black and fake money. It is laudable and good for the economy," the bench said.

Moreover, the step taken by Prime Minister Narendra Modi led central government was a "masterstroke", it observed.
"Bringing the decision into immediate effect is a master stroke by the central government," the bench said.
The PIL was filed by Mohammed Haroon Rasheed, challenging the government's decision to eradicate the black money and fake currency notes, contending that it affected the common people.
He argued it has affected the daily life of the people as they have to leave the work and stand in the queues in front of the banks (for exchanging the scrapped notes).