No more chances to exchange demonetized notes: Centre tells Supreme Court

Modesto Morganelli
Luglio 17, 2017

The Centre on Monday told the Supreme Court that it will not grant citizens more time to deposit or exchange old currency notes, saying it will defeat the whole objective of demonetisation, The Times of India reported.

"In other words, what was permitted was exchange and or deposit of specified bank notes during a block period a period up to and including December 30, 2016, either in person or through authorised third person", it said.

Earlier on July 4, the apex court rapped the Centre and asked them to give another chance to "genuine people to deposit old notes", to which the Centre was given two weeks to respond.

The affidavit said that none of the petitioners has given any valid ground as to why they could not deposit the scrapped notes through his or her authorised third person. The Centre had later introduced a new Rs 500 and Rs 2000 note with the aim of fighting corruption and eliminating black money. According to several reports, the amount of currency which was turned into non-legal tender amounted to Rs 15.5 crore on November 8 midnight.

The prime minister, in a televised address to the nation on November eight previous year had declared that high denomination notes of Rs 500 and Rs 1000 would no longer be legal tender.

The Centre on Monday filed an affidavit in the Supreme Court over the demonetisation row, saying it was not ready to extend the window period for depositing old currency notes.

The SC-bench led by Chief Justice of India JS Khehar said government would be acting in an unjustified manner, it it disallows those who were "genuinely unable to meet the December 30 deadline".

The undisclosed income detected in the above actions was of more than Rs 5,400 crore, the government said.

Patel, at the meeting, is believed to have said that the RBI hadn't arrived at the final figure just because the counting was still in progress.

A few days ago, Reserve Bank of India Governor Urjit Patel told a parliamentary panel that lack of machines and infrastructure has resulted in the delay of counting the demonetised currency in the system.

One of the pleas has also referred to the Specified Bank Notes Cessation of Liabilities Ordinance and said the government had breached the assurance.

The deadline for the general public to deposit the scrapped currency in bank or post office accounts expired on December 30, 2016.

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