'Reasonable Nexus to Bring Such Measure': SC Upholds Centre's Demonetisation Move

The Supreme Court on Monday upheld the Centre's 2016 demonetisation move by 4:1 majority. Justice BR Gavai, said the Centre's move was logical and that the decision-making process was not flawed.

The top court ruled that the Centre had the authority and that the delay in exchanging currency notes could not be considered arbitrary.

"It has been held that there has to be a great deal of restraint before interfering in matters of economic significance. The court cannot supplant such views with the judicial one," Justice Gavai said.

However, former Finance Minister P Chidambaram told the bench that demonetization is still a "live issue" and that the court needed to look into the rules that governed the economic exercise.