M.SEENI AHAMED Vs. THE UNION OF INDIA

JUDGEMENT

(1.) The Hon'ble Prime Minister of India, while addressing the Nation on the night of 08.11.2016, announced the decision of the Government of India, to demonetize the existing Rupees 500 and 1000 currency notes, which are in circulation in the Country. The Hon'ble Prime Minister also highlighted that the said measure is an attempt to tackle black money in the economy, to lower the cash circulation, which is directly related to corruption in our Country, to eliminate fake currency and dodgy funds, which have been used by terror groups to fund terrorism in India. The Hon'ble Prime Minister further clarified that it is a move estimated to scoop out more than Rs.5 Lakhs Crore black money from the economy. The Hon'ble Prime Minister further assured the Nation that the said action taken would not in any manner affect the common man and the people who have earned money, by honest means.

(2.) On the same day, as announced by the Hon'ble Prime Minister of India, the Government of India, Ministry of Finance, Department of Economic Affairs, issued a Notification in S.O.3407(E), which reads as follows:

(3.) A reading of the Notification in S.O.3407(E) would go to show that as announced by the Hon'ble Prime Minister, the decision to demonetize 500 and 1000 rupees currency notes, which are now in circulation, was made on the basis of the recommendations of the Central Board Directors of the Reserve Bank of India. The Central Board had made such a recommendation, in the following circumstances: