SC to pronounce judgement on validity of pleas against 2016 demonetisation on January 2

On the last date of hearing, the court had asked the Union government and RBI to produce the relevant records of the matter

The Supreme Court is scheduled to pronounce its judgement on January 2 on a batch of petitions questioning legality of Union government’s 2016 demonetisation decision.

A bench of Justices S Abdul Nazeer, B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna had on December 7 reserved its judgement in the case.

On the last date of hearing, the court had asked the Union government and the Reserve Bank of India to produce the relevant records of the matter.

According to the SC causelist posted on its website, of the five judges, Justice Gavai would pronounce the verdict in the case on January 2, reopening of the court after winter vacations.

Justice Nazeer, who presided over the bench, is set to superannuate on January 4.

In its response, the Centre had told the court that the November 2016 decision to withdraw legal tender of Rs 500 and 1,000 currency notes was one of the critical steps in the series of transformational economic policy steps and this decision was taken after extensive consultation with the RBI and advance preparations.

The petitioners led by advocate Vivek Narayan Sharma had claimed the decision to withdraw the legal tender of Rs 500 and Rs 1,000 currency notes was "completely flawed" and did not emanate from the RBI.