Vivek Narayan Sharma vs Union of India | Supreme Court | Demonetisation | RBI Act | Specified Bank Notes (Cessation of Liabilities) Act | Purposive Interpretation | Delegated Legislation

1. Demonetisation validity upheld (4:1)
2. Interpretation of RBI Act, especially Section 26(2) – ‘any’ means ‘all’ – ‘recommendation’ means ‘consultation’
3. Interpretation of Section 4(2) of Specified Bank Notes (Cessation of Liabilities) Act, 2017 – RBI has no independent power to accept demonetised notes beyond specified period
4. Principles of purposive interpretation discussed
5. Scope of delegated legislation discussed

Case details: Vivek Narayan Sharma vs Union of India | WP(C) 906 OF 2016 | 2 January 2023 |

Coram: Justices S. Abdul Nazeer, B R Gavai, A S Bopanna, V Ramasubramanian and Justice B V Nagarathna

Citation : 2023 LiveLaw (SC) 1

Read Judgment here: SCI , IndianKanoon