Allow people with ‘genuine reasons’ to deposit banned notes: SC

Currency, Demonotised, Exchange, Allow, People, SC

People left with old denomination currency of Rs 500 and Rs 100 may have one more chance to exchange them as Supreme Court has asked the government and RBI to give another opportunity to people who failed to exchange or deposit their demonetized bills by March 31.

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“If someone has a genuine reason, you cannot deny him the opportunity to people who failed to exchange or deposit their demonetised currency bills by March 31” said a bench headed by Chief Justice JS Khehar.

You cannot take away someone’s property. If it’s my money I can establish that, then you cannot deprive me of my property” Chief Justice said after hearing the petitions challenging governments notification of restricting people from depositing old notes.

“We are also hearing genuine cases where we are satisfied deposits cannot be done because there was no window,” Chief Justice said.

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Earlier, Prime Minister Narendra Modi after extended the date from Dec 30, 2016, to March 3, 2017, for exchanging old currency notes. The apex court said that this could bring hopes to people with genuine old currency who missed the deadline.

 

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