Key Points
Speaking on the role of judiciary in shaping economies, Gujarat High Court judge, Justice Biren Vaishnav, on Saturday expressed apprehension whether the Centres demonetisation move in 2016 had indeed achieved the stated objectives of eliminating fake currencies, black money and terror financing, as was the majority view of the Supreme Court in its verdict earlier this year...
While citing some cases where judicial decisions shaped the contours of the economy, Justice Vaishnav also said that the question we need to consider is whether it is always proper for courts to intervene in questions where there are economic considerations on hand...
Justice Vaishnav was speaking at the inaugural session of the two-day GNLU International Conference on Economic Analysis of Law, Governance and Public Policy, organised by the GNLU Centre for Law and Economics...
Six years later, the SC, in a judgement of 4:1, opined that no doubt on account of demonetisation the citizens were faced with various hardships, (but) the court said the objective was achieved elimination of fake currencies, black money and terror financing...
The majority view held that there is a reasonable nexus between the measure of demonetisation with the aforesaid purposes of addressing issues of fake currency bank notes, black money, drug trafficking and terror financing...
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