LOOKING OVER THE ‘DEMONETIZATION VERDICT’: AN IN-DEPTH ANALYSIS OF VIVEK NARAYAN SHARMA V. UNION OF INDIA
(Student, B.A.LLB. (Hons), The Law School, University of Jammu)
On 8th of November 2016, the Government of India issued a notification for demonetization of the high denomination currency notes. As soon as it was made public, the notification was challenged on the grounds that it was violative of Articles 14, 19, 21 and 300A of the Constitution of India and the RBI Act of 1934. The judgement, however, was delivered in the ratio of 1:4 with a majority view upholding the validity of the policy of demonetization. Justice B. V. Nagarathna, nevertheless, dissenting the judgement given by four other judges of the five-judge bench held the Executive action to be illegal on the procedural grounds. The analysis of the Author in this case analysis sums up to be critical about the judgement and has been discussed by the end of the paper. The major questions while analyzing the judgement revolved around how the judgment will add wings to the Executive power while making decisions of economic and monetary importance and how the Court has adopted such a method of interpretation of laws which can be conveniently employed for deciding the validity and invalidity of the Executive action. Many cases have been referred in the case including Maneka Gandhi v. Union of India and the ‘Puttaswamy’ judgement which are mentioned by the end of this paper.
Demonetization, purposive interpretation, proportionality principle, economy, Constitution
|Information||Lex Humanitariae: Journal for a Change, Volume III Issue II, Pages 13-20|
|Creative Commons||This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.|
|Copyright||© 2022- Lex Humanitariae: Journal for a Change|