Supre Court verdict on demonetisation live updates: The Supreme Court on January 2 upheld the Union Government’s November 2016 decision to demonetise Rs.500 and Rs 1000 currency notes.

SC verdict on demonetisation live updates: The Supreme Court on January 2 upheld the Union Government’s November 2016 decision to demonetise Rs 500 and Rs 1000 currency notes.

In 2016, Centre demonetized notes worth 86 percent of the money in circulation. During the hearing in Nov-Dec, the top court hinted that it may not scrap demonetisation as 'the clock cannot be turned back after six years'. Among 36 petitions challenging the 2016 notification are people who were not able to deposit their money within the window period available till December 30. Justice Gavai while delivering the verdict pronounced:  "In view of multifarious activities legislature can consider working of the details. We have stressed on primary role of RBI to regulate bank noted as imp role of the economic structure of the country."--There was consultation between the centre and the Reserve bank of India for a period of six months. we hold that there was a reasonable nexus to bring such a measure, and we hold that demonetisation was not hit by the doctrine of proportionality, he said.

Supreme Court verdict on pleas against demonetization today