Plea seeking review of verdict on demonetisation filed in SC

A plea seeking a review of the judgement that upheld the Centre's 2016 decision to demonetise Rs 1,000 and Rs 500 currency notes was filed in the Supreme Court on Sunday.

A five-judge Constitution bench, in a 4:1 majority verdict, on January 2 had given its stamp of approval, saying the decision-making process was neither flawed nor hasty.

The review plea was filed by lawyer ML Sharma, one of the 58 petitioners who had moved the top court challenging the demonetisation exercise announced on November 8, 2016.

Sharma, in his review plea, contended that the bench did not consider his “written arguments” in its verdict on the batch of pleas which led to “serious injustice and miscarriage of justice”.

“It is, therefore, most respectfully prayed that ... may be pleased to: (i) Review the Judgment...,” it said.

Observing that the scope of judicial review in matters of economic policy is "narrower", a five-judge Constitution bench headed by Justice S A Nazeer, since retired, had said there has to be great restraint in matters of economic policy and the court will not interfere with any opinion formed by the government if it is based on the relevant facts and circumstances or on expert advice.

Justice B V Nagarathna, however, had dissented and said the demonetisation of the Rs 500 and Rs 1,000 currency notes was "vitiated and unlawful".

The top court's judgment came on a batch of 58 petitions including the one filed by lead petitioner Vivek Narayan Sharma challenging the demonetisation exercise.