https://www.taxtmi.com/caselaws?id=432590 Section 26(2) of the Reserve Bank of India Act was construed to permit demonetisation of all series of bank notes of a denomination, not merely one or some series, where the Central Government acts on the RBI Central Board's recommendation. The provision was held not to involve excessive delegation because the Act supplies adequate guidance and embeds institutional safeguards. The notification was also treated as procedurally valid, proportionate, and supported by a reasonable exchange period. Section 4(2) of the Specified Bank Notes (Cessation of Liabilities) Act was read as not conferring an independent power on the RBI to accept demonetised notes beyond the notified period. en-us Mon, 02 Jan 2023 00:00:00 +0530 Tue, 12 Nov 2024 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432590 Section 26(2) of the Reserve Bank of India Act was construed to permit demonetisation of all series of bank notes of a denomination, not merely one or some series, where the Central Government acts on the RBI Central Board's recommendation. The provision was held not to involve excessive delegation because the Act supplies adequate guidance and embeds institutional safeguards. The notification was also treated as procedurally valid, proportionate, and supported by a reasonable exchange period. Section 4(2) of the Specified Bank Notes (Cessation of Liabilities) Act was read as not conferring an independent power on the RBI to accept demonetised notes beyond the notified period. Case-Laws Indian Laws Mon, 02 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432590