Produce note ban records: SC to Centre

New Delhi: The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India (RBI) to submit relevant records in connection with the government's 2016 demonetisation decision for its perusal.

After hearing detailed arguments on a batch of petitions challenging the demonetisation move, a bench headed by Justice S.A. Nazeer reserved the judgment. The bench, also comprising Justices BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna, said: "Counsel of the Union of India and Reserve Bank of India are directed to produce the relevant records."

Attorney General R Venkataramani represented the Centre and senior advocate Jaideep Gupta represented the RBI, and senior advocates P Chidambaram and Shyam Divan appeared for some of the petitioners.

Reserving the judgment on the petitions, the top court directed the parties to file written submissions by December 10.

The AG contended that he will submit the relevant records in a sealed cover.

On Tuesday, Justice Nagarathna said the courts will not go into the merits of the decision, but it can always go into the manner it was taken, two things are totally different.

"Because it is an economic policy court cannot fold its hand and sit. Merits of the decision, it is for the government in its wisdom it knows what is best for the people, but while taking that decision what was the material on record, relevant considerationsa," said Justice Nagarathna.