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Rediff.com  » Business » SC notice to Centre on deadline for depositing old notes

SC notice to Centre on deadline for depositing old notes

Source: PTI
March 06, 2017 14:33 IST
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The Supreme Court on Monday sought a response from the Centre and the Reserve Bank of India on a plea alleging that people were not being allowed to deposit demonetised currency notes till March 31 as promised.

"Issue notice returnable by Friday," a bench headed by Chief Justice J S Khehar said and asked petitioner Sharad Mishra to serve the copy of its notice to the Centre and the Reserve Bank of India during the course of the day.

The plea referred to the speech of Prime Minister Narendra Modi on November 8, 2016, and the subsequent notification of RBI spelling out that people may deposit demonetised currency notes even after December 31, 2016, at specific RBI branches up to March 31, 2017, after complying with certain procedural requirements.

The bench, also comprising Justices D Y Chandrachud and S K Kaul, considered the argument that the RBI's last ordinance, which permits only those persons who were outside India during the stipulated period to deposit the demonetised currency notes till March 31, is a breach of assurances given by the prime minister and the RBI. 

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