Demonetisation | The story so far

Why you went back on promise to extend cut-off date to deposit old notes, SC asks govt.

Non-resident Indians wait outside the RBI office in New Delhi to exchange the demonetised currency of Rs. 1,000 and old Rs. 500 notes. File photo.   | Photo Credit: V. Sudershan

The Supreme Court on Monday asked the government to respond to why it went back on its promise of extending the date of deposit of demonetised notes to March 31, 2017.

A Bench of Chief Justice of India J.S. Khehar, D.Y. Chandrachud and S.K. Kaul gave the government time till Friday to respond to a bunch of petitions filed by companies and individuals. The pleas contended that the Specified Bank Notes (Cessation of Liabilities) Ordinance, promulgated on December 13, 2016, penalised those who deposited demonetised money after December 31, 2016.

 

The petitioners said Prime Minister Narendra Modi’s speech on November 8, 2016, announcing the demonetisation of Rs. 1,000 and old Rs. 500 notes and the subsequent RBI notification promised that citizens would be able to deposit them beyond the cut-off date of December 31, 2016, till March 31, 2017.

In its order, the Bench highlighted the petitioners' main prayer that despite the explicit postulation that the final date of deposit would be extended till March 31, "no individual was allowed to deposit after December 31, 2016.”

"It is submitted that petitioner had genuine reasons and yet no attention was paid to his predicament though he brought it to the notice of the authorities," the Bench recorded the submissions of the petitioners.


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Printable version | Nov 24, 2021 1:57:43 AM | https://www.thehindu.com/news/national/why-go-back-on-promise-to-extend-cutoff-date-to-deposit-old-notes-sc-asks-govt/article17416591.ece

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