Supreme Court · 1996 INSC 859 · Decided 9 August 1996
Jyantilal Ratanchand Shah v. Reserve Bank of India and Ors
- Court
- Supreme Court of India
- Citation
- 1996 INSC 859 · [1996] SUPP. 4 S.C.R. 443
- Case number
- WRIT PETITION (CIVIL) No. 1188/1979
- Decided
- 9 August 1996
- Bench
- KULDIP SINGH, M.M. PUNCHHI, N.P. SINGH, M.K. MUKHERJEE, S. SAGHIR AHMAD (5-judge bench)
- Outcome
- Dismissed
- Case type
- Writ / Constitutional
- Acts & sections cited
- Constitution
Headnote
High Denomination Bank Notes (Demonetisation) Act, 1978: Ss. 3, 4, 7 and 8. A B c Constitutionality of--High denomination bank notes ceased to be legal tender after 16.l.1978-Rese1ve Bank of India tlw~by 1dieved from making paymelll--Held: in effect Act extinguished or wiped out public debt owing from State and consequently their 'property' was compulso1ily acquired-But conside1ing !he evil the Act sought D to remedy as set out in its Preamble, acquisition was for public pur­ pose--Hence, not violative of A1ticle 31(2}-After such compulsmy acquisi- tio11 of 'property', 1ight of
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