How are some people getting huge amount in new currency, SC asks Centrehttps://indianexpress.com/article/india/how-some-people-are-getting-huge-amount-in-new-currency-sc-asks-centre/

How are some people getting huge amount in new currency, SC asks Centre

Reserving its verdict on plea against demonetisation, the Supreme Court on Thursday said the effect due to the government's step looks extreme with some facing extreme hardship while others look unaffected.

demonetisation, supreme court, income tax, sc, demonetisation case, note ban, new currency,
Supreme Court

Reserving its verdict on plea against demonetisation, the Supreme Court on Thursday said the effect due to the government’s step looks extreme with some facing extreme hardship while others look unaffected. However, taking strong exception to the recovery of huge amount in new currency notes during Income Tax raids in last few days, the court asked Attorney General Mukul Rohatgi as to how some people were getting money in lakhs and that too in new currency.

“People are not getting Rs 24,000 a week then how some got lakhs of new currency,” Chief Justice TS Thakur asked Rohatgi. Replying to Thakur, Rohatgi said that some bank managers are allegedly involved in illegal activities and the government is acting against the culprits.

Earlier on December 9, the apex court asked the Centre whether its decision to bring in demonetisation was taken in absolute secrecy while hearing a bunch of petitions questioning the Narendra Modi government’s rationale behind the implementation of the policy.

The Centre had submitted an affidavit last week on the demonetisation move in the Supreme Court, saying it is an attempt to unearth black money stashed over the last seven decades. Rohatgi said that the Centre had filed a reply in the Supreme Court in compliance with the top court’s earlier order on the issue.

Advertising

The Centre in its affidavit told the apex court that demonetisation is a step to reduce ratio of cash transactions, adding the objective is to unearth illegal parallel economy. Attorney General Rohatgi had earlier filed a transfer petition before the Supreme Court seeking a stay on all pending pleas against demonetisation.

The apex court had on November 18 refused to put a stay on hearings in various High Courts and lower courts related to the demonetisation of Rs. 500 and Rs. 1,000 currency notes.

Follow the Lok Sabha Elections 2019 real-time on IndianExpress.com/elections. Check the Lok Sabha election schedule, your Lok Sabha constituency details as well as where Narendra Modi and Rahul Gandhi are campaigning in the Lok Sabha Election. On Twitter, follow @Decision2019 for the latest news and analysis.