SC reserves verdict on demonetisation, asks govt, RBI for submissions

AG said note ban's success or failure in curbing black money not a reason to invalidate the decision judicially as the move was made in good faith, after following due process

The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India (RBI) to make their submissions till Saturday related to the Union government’s 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500.

The apex court reserved its verdict on a batch of 58 petitions challenging the demonetisation on November 8, 2016.

The five-judge constitution bench of Justices S A Nazeer, B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna heard the submissions made by RBI counsel Attorney General (AG) R Venkataramani and the petitioners, who were represented by Senior Advocates P