The 2016 demonetisation exercise passed muster with four of the five judges on the Constitution bench validating it, but Justice B V Nagarathna declared it illegal by terming unlawful all three measures-November 8, 2016, notification scrapping existing Rs 500 and Rs 1,000 notes, the Specified Bank Notes (Cessation of Liabilities) Ordinance of December 30, 2016, and the subsequent 2017 Act.
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