The Supreme Court today upheld the government’s 2016 note ban decision which phased out old Rs 1,000 and Rs 500 currency notes by a 4:1 majority. The apex court said that the decision-making process was not flawed. A five-judge Constitution bench of the apex court, headed by Justice S A Nazeer, said that there has to be a great restraint in matters of economic policy and the court cannot supplant the wisdom of the executive by a judicial review of its decision. However, the dissenting judge said that the order was unlawful and vitiated.
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