Chidambaram gave strong arguments, compelled SC to interfere in petitions against demonetisation

Senior Congress leader and former Finance Minister P Chidambaram, with his arguments, forced the Constitution Bench of the Supreme Court to get the demonetisation genie out of the bottle. After Chidambaram's arguments, the Supreme Court had to intervene on 58 petitions lying in cold storage against demonetisation. SC said that a law can be framed for the coming generations. It is the duty of the Constitution Bench to answer the questions raised in the issue.

In fact, the bench initially wanted to dispose of the petitions by accepting the observation of SG Tushar Mehta that the matter had become infructuous and only academic interest remained but a senior Congress leader, former finance minister and a senior counsel appearing for the petitioner. P Chidambaram said that the 1978 demonetisation was a separate law. A law brought after the ordinance is not academic, it is a live issue. We will prove it. This issue may arise in future. Thereafter, the bench was of the prima facie view that the issue needed further investigation. After this, a detailed affidavit was sought from the Center and RBI.

Significantly, the Supreme Court has asked the Center a question on the constitutional validity of demonetisation. The court said that the Supreme Court should not decide the law for the future? Can demonetisation be done under RBI Act? Is there a need for a separate law for demonetisation? The manner in which demonetisation was carried out, aspects of this process need to be looked into. Earlier, Justice Nazeer, heading the bench, asked – is there anything left in the matter now? Justice Gavai said, if nothing is left then why should we proceed? On this SG had said that I think nothing is left except some academic issues. Should five judges sit to decide on academic issues?