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SC asked Centre to extend window for depositing post demonetization notes

 2017-07-04 09:59:32.0

SC  asked Centre to extend window for depositing post demonetization notes

Tahlka News Bureau


New Delhi: The Supreme Court ordered the Centre to consider giving grace to those who couldn't deposit old notes in banks for genuine reasons post November 8 demonetisation move.
The apex court bench compraising Chief Justice JS Khehar and Justice DY Chandrachud asked Solicitor General Ranjit Kumar, representing the Centre .
A two weeks notice has to been asked to serve by the Centre and Reserve Bank of India (RBI) to concider giving more time to people with genuine reasons to deposit the now out of use Rs 1000, 500 notes. "You can't take away my money if I was terminally ill," the Supreme Court bench said while slamming the government over its December 30 deadline to deposit old notes in banks.
While, in April the Centre informed the Supreme Court that it took a "conscious decision" not to extend the period beyond December 30 last year for exchanging the demonatised currency notes except for NRIs that ended on March 31.
The government explained that it was not bound to come out with a fresh notification to extent the time to deposit scrapped currency notes.

It also reported about the raids and recovery made by law-enforcing agencies during and after the demonatisation period claimed that undisclosed income of over Rs 5,400 crore was detected.
"It is most humbly submitted that the central government took place a conscious that no necessity or any justifiable reason existed either in law or facts to invoke its power under section 4(1)(II) of the Ordinance to entitle any person to tender within the grace period of the specified bank notes."
The affidavit was filed after petitions were filed by private individuals and a firm to extend the window like those given to NRIs and people who were abroad during the demonitisaton to deposit the scraped currency notes with the Reserve Bank of India.

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