The document discusses the legality of India's 2016 demonetization policy. It states that while the central government's notification announcing demonetization may seem prima facie illegal based on a technical reading of law, the government could validate it through subsequent legislation, as occurred with a similar 1976 policy. It argues the pending legal challenges will likely not succeed in arguing ultra vires or on grounds of inconvenience to people's rights. However, it identifies five specific consequences of demonetization that are illegal, such as imposing cutoff dates and penalties for depositing money. No current legal challenges have raised these grounds.