Consider window for deposit of scrapped notes: Supreme Court to Centre

The court was hearing petitions challenging the government’s notification which disallowed people from depositing old notes after a prescribed time. Responding to the query, Solicitor General Ranjit Kumar said the government had not considered individual cases.

By: Express News Service | New Delhi | Updated: July 5, 2017 5:26 am
demonetisation, old note ban, note ban, note seizure, rs 500 ban, rs 1000 ban, demonetised note seizure, indian express news, india news, economy The court was hearing petitions challenging the government’s notification which disallowed people from depositing old notes after a prescribed time.

THE SUPREME Court on Tuesday gave the Centre and Reserve Bank of India two weeks time to consider granting a window to those who have not been able to exchange scrapped Rs 500 and Rs 1000 notes for “genuine reasons”.

“You (Centre) cannot be allowed to deprive a person of his money if he couldn’t deposit it due to some genuine problems. Consider giving a window to a genuine problem. What if someone is terminally ill and couldn’t deposit the money,” said a bench of Chief Justice of India Justice J S Khehar and Justice D Y Chandrachud. “There can be a situation where a person can be in a position of hardship… Suppose a person was in jail during the period… We want to know why you chose to bar such person from depositing money,” said the bench.

The court was hearing petitions challenging the government’s notification which disallowed people from depositing old notes after a prescribed time. Responding to the query, Solicitor General Ranjit Kumar said the government had not considered individual cases.

“If you are not giving a person, who could not deposit their money for genuine reasons, another chance, then it raises a serious issue. No individual can be deprived of his private property,” said the CJI.

“You cannot take the money away” if a person says that it was his failing that he could not deposit the money and justifies that “under no circumstance could he have deposited them”, the court said.

Kumar said it was up to the RBI to decide cases on an individual basis. “RBI can come out with a circular that individual cases may deposit their money if genuine, but no class of persons,” he said.

The CJI remarked that even the individual cases will become a class by themselves. The SG then sought time, saying he would take instructions from the government. The court said both the Centre and RBI should respond on the issue, and gave them two weeks to file their replies.

On November 8 last year, Prime Minister Narendra Modi had announced that Rs 500 and Rs 1,000 notes would be scrapped from the next day. The government had assured that the demonetised notes could be exchanged at banks, post offices and RBI branches till December 30, 2016. Those unable to deposit the notes by that day could do so at RBI branches till March 31, 2017, after complying with certain formalities.

However, it was later specified that only those who were abroad or armed forces personnel posted in remote areas or others who could give valid reasons for not being able to deposit the scrapped notes at banks, could deposit the demonetised currency notes till March 31. The petitioners said the government’s decision to not extend the deadline for the general public amounted to breach of its assurance.

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  1. J
    Jim Roland
    Jul 5, 2017 at 12:10 pm
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    1. J
      Jim Roland
      Jul 5, 2017 at 12:05 pm
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      1. K
        Kamal Pasha
        Jul 5, 2017 at 11:38 am
        Whatever Modi does, has always failed . Demonitization and now GST. He praises himself with big Bhashans. The Feku Chaiwala. If you want to know what is under his skin, read Economist.
        Reply
        1. J
          jk
          Jul 5, 2017 at 7:50 am
          And our item chaiwala declares it a Bold action! Of course a Joker will remain a Joker!!
          Reply
          1. S
            s s nair
            Jul 5, 2017 at 7:40 am
            The observation made by the Hon’ble Supreme Court Judge on deposit of banned notes one more time is welcome and this will be universally appreciated. It means where the opposition failed the SC has filled the gap to protect the interest of common man. The Judge has spoken the language of common man when he has observed that when the Prime Minister Modi had told in a live television announcement to accept old notes till 31st March but gone back on the promises. The Judge has rightly quoted the PM's assurance and Govt notification. The Govt has also lost its face. If the Govt still sticks to their stand, the people will have no respect for the govt notifications in future.
            Reply
            1. C
              Chetram Sharma
              Jul 5, 2017 at 6:53 am
              After dead line many Gangster exchange the money of 20:80 ratio. means 20 customers and 80 Gangster. This game was widely played in the State of Gujarat. Same in other states also. If as per Supreme court order, and if window is open again the purpose of note bandhi will be failed. The Gangsters will again be active in the market. Supreme Court must reconsider its decision.
              Reply
              1. D
                Deshu
                Jul 5, 2017 at 2:28 am
                Judiciary must see the largest interest of Indian Economy rather than for few individuals under which Block money holders will take benefit if it is allowed to deposit old currencies.A wise man would not have kept old currency at home when it was to be exchanged.Hope judiciary would not allow to deposit old currencies otherwise wrong signal will go to public which will harm to all.
                Reply
                1. S
                  Saravan
                  Jul 5, 2017 at 7:08 am
                  Have you thought about the people who stay abroad and can't come to India just to deposit 5000 or 10000 rupees? Why should they lose that money? Or are you expecting them to spend 10 times that amount to travel to exchange that money. Even for those travelling to India, the govt. expected them to travel to specific RBI counters in metros to exchange notes. That essentially means spend 5000-6000 Rs to exchange 5000-10000 Rs. Think before you post, not everyone is in the same boat as you are and not everyone is a black money der.
                  Reply
                2. R
                  Ramakrishnan
                  Jul 5, 2017 at 1:16 am
                  Since oct.2015 I am in North America.I am having Rs.5500/ in 500 rupee notes here with me and may be another 3 to 5 notes in 500 or 1000 denomination of demonetised notes in my house in india.My departure from india and arrival can be verified from my passport and travel documents.It is not practicable to fly to the country to get these demonetised notes ex changed and the total amount is less than Rs.10000/.At least should I not get a chance to exchange the amount with me here in person which I will be able to show to the concerned authorities in Air port. I will be here for another month or more and arrival can be verified from my passport.The total amount is very less but why should we loose these hard earned money.So my request to authorities is to help people like me by giving us a chance to exchange these little amounts of demonetised notes in our bank where we are having our accounts
                  Reply
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