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Delhi High Court rejects plea challenging RBI decision to withdraw ₹2,000 notes

Team SoOLEGAL 5 Jul 2023 1:29pm

Delhi High Court rejects plea challenging RBI decision to withdraw ₹2,000 notes

New Delhi: On Monday, the Delhi High Court dismissed a Public Interest Litigation (PIL) plea contesting the Reserve Bank of India's (RBI) decision to withdraw 2,000 rupee notes from circulation.

Chief Justice Satish Chandra Sharma and Justice Subramaniam Prasad of the Division Bench dismissed the petition.

The petition was submitted by an advocate called Rajneesh Bhaskar Gupta, who claimed that the RBI lacked the autonomous jurisdiction to stop banknotes under the RBI Act.

He claimed that the Central Government had exclusive authority to stop banknotes and that there was no evidence that the government had issued such an order.

Surprisingly, on May 29, the High Court dismissed a petition filed by Bharatiya Janata Party (BJP) politician Ashwini Upadhyay against the RBI's decision to exchange these notes without requiring any form of identification.

The Court stated that the Rs. 2,000 notes had served their function and that the decision to withdraw them was a matter of policy that the courts should not interfere with.

The bench stated “therefore, it cannot be said that the decision of the Government is perverse or arbitrary or it encourages black money, money laundering, profiteering or it abets corruption.” 

Adv. Upadhyay then filed a petition with the Supreme Court, which is still pending. Last month, the Supreme Court refused to hear the case on an emergency basis.



Tagged: Delhi High Court  
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