In a recent development, the Supreme Court of India has declined immediate intervention in a plea challenging the Reserve Bank of India’s (RBI) notification allowing the exchange of ₹2,000 currency notes without the requirement of any identity proof. The vacation bench of Justices Aniruddha Bose and Rajesh Bindal instructed the Registry to refer the case to the Chief Justice of India after the summer vacations for further listing.
The plea was filed by BJP leader and advocate Ashwini Kumar Upadhyay, who sought urgent listing of the appeal against the Delhi High Court’s order upholding the RBI notification. However, the apex court deemed the plea as not meriting a hearing during the vacation period and advised Upadhyay to mention the matter before the Chief Justice of India once the Court reopens after its ongoing summer break.
Earlier, on June 7, a bench led by Justice Bose had sought a report from the registry to determine whether the defects in the appeal had been rectified and whether the matter warranted urgent listing.
The Delhi High Court, in its verdict on May 29, had reasoned that the ₹2,000 notes had served their intended purpose, and the decision to withdraw them was a policy matter that should not be interfered with by the courts.
Upadhyay, in his appeal, contended that the High Court’s ruling contradicted the objectives of multiple legislations aimed at combating black money, counterfeiting, and money laundering. He further argued that the RBI notification undermines the rule of law in India and violates the rights to equality and dignity, as it allows banks to convert black money into white.
The Supreme Court’s decision to defer the plea to the Chief Justice of India indicates that the matter will receive further consideration and deliberation. As the Court reconvenes after the summer break, it is anticipated that the Chief Justice will assess the merits of the case and determine the appropriate course of action.
The outcome of this plea has significant implications for the exchange of ₹2,000 notes and the government’s efforts to combat illicit financial activities. It remains to be seen how the Chief Justice of India will approach this matter and whether the RBI notification will face any legal scrutiny or potential amendments in the future.
