SC Dismisses Petition Challenging Notification of RBI

The Supreme Court on Monday rejected the plea filed by BJP leader and advocate Ashwini Kumar Upadhyay, challenging the RBI’s notification permitting the exchange of ₹2,000 currency notes without requiring identity proof.

Chief Justice of India DY Chandrachud and Justice PS Narasimha, in their observation, stated that the purpose of demonetization had been fulfilled as the notes were being exchanged.

The CJI remarked that, “Suppose you give a ₹2000 note to a vegetable vendor, will he ask your ID proof or tender you the things? This issue is an area of executive governance.

You cannot equate desirability with legality. A large amount of transactions happen in this fashion, would you say they are all illegal?”

Upadhyay appealed to the Supreme Court after the Delhi High Court had previously rejected his plea.

The Supreme Court had during the recent summer vacations twice declined to allow urgent listing of the instant plea filed by the BJP leader and advocate.

The High Court reasoned that the ₹2,000 notes served their purpose and the decision to withdraw them was a policy matter outside the court’s interference.

Upadhyay argued that the High Court’s ruling contradicted the objectives of legislation targeting black money, counterfeiting, and money laundering.

Further, the appeal contended that the RBI notification violated the principles of rule of law, equality, and dignity, as it allowed banks to convert black money into white.