New Delhi, Jan 2 : The Supreme Court on Monday, in a 4:1 majority judgment, upheld the Centre's 2016 decision to demonetise the Rs 1,000 and Rs 500 denomination notes, saying the November 8, 2016 notification (demonetisation) does not suffer any flaws in the decision-making process and also satisfies the test of proportionality.

A five-judge constitution bench, headed by Justice S.A. Nazeer and comprising Justices B.R. Gavai, A.S. Bopanna, V. Ramasubramanian, and B.V. Nagarathna, pronounced the judgment on a clutch of petitions challenging the Centre's 2016 decision. Justice Nagarathna differed from the majority and wrote a separate minority judgment.