Demonetisation: HCs will hear pleas, says Supreme Court

currency notes

NEW DELHI, 24 Nov: The Supreme Court while hearing centre’s plea to transfer petitions against demonetisation in various high courts denied to stay ongoing proceedings in various high courts.

On attorney general Mukul Rohatgi’s submissions, a bench chaired by Chief Justice T S Thakur and Justices D Y Chandrachud and L N Rao sent notices to persons who have filed petitions in HCs.

Rohatgi sought a hold on proceedings before the HCs during pendency of the issue before the Top court. “It is an usual order the SC passes every time it entertains a petition seeking transfer of petitions pending in different HCs,” he said.

The bench disagreed on the statement and said, “As you yourself said the petitions have raised all kinds of issues before the HCs, it will not be proper to stay the proceedings. People are facing different types of problems and may be the HCs can provide some urgent relief.”
The court will hear the transfer plea on December 2.

Besides transfer petition, the CJI asked the AG about the situation after demonetisation improved or not to which Rohatgi said queues outside ATMs and banks had reduced considerably.

“There is no dearth of new currency notes. The real problem is movement of these notes to every nook and corner of the country.The situation will normalise in the next 20 days,” he added.

The bench also asked whether post-demonetisation deposits in banks reached to the government’s expectation of Rs 15-16 lakh crore? The AG said, “I had said total money in circulation was to the tune of Rs 15-16 lakh crore of which Rs 4-5 lakh crore was fake currency used in north-eastern states and Jammu and Kashmir for anti-national activities. We expect a deposit of Rs 10 lakh crore.”

“So if you get Rs 10 lakh crore deposited in banks by people, you will call it a success?” asked the CJI. The AG replied, “Within 10 days of the demonetisation policy coming into force, banks have received more than Rs 6 lakh crore. This shows the policy is already a success.

The AG said the Centre has already formed a team of experts to go all around the country to collect information on post-demonetisation effects.

 Wefornews Bureau 

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