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

Read #SupremeCourt Judgment on #Demonetisation here

🔗https://t.co/eS9wAeaf8G

Also read minority view summarized here : https://t.co/zbQMFwfjti

Summary of the judgment can be read from these screenshots: pic.twitter.com/h8dNwhmQ6t

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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