Ranjit Kumar sought time to get instructions for granting an opportunity to persons to deposit their money on a case-by-case basis. DemonetisationSolicitor General Ranjit Kumar sought time to get instructions for granting an opportunity to persons to deposit their money on a case-by-case basis. The bench said there are people who could not deposit their old currency notes during the December 30 deadline - like those in prison. On November 8, 2016, the Central government had announced that Rs 500 and Rs 1,000 notes would no longer be legal tender from November 9. The government had assured the people that demonetised currency notes could be exchanged at banks, post offices and Reserve Bank of India (RBI) branches till December 30, 2016.
referring to
"You had a window, you chose not to exercise it," CJI Khehar said, demanding answers from Solicitor General (SG) Ranjit Kumar. CJI Khehar, in a shift from his earlier hands-off approach to policy measures, said money was like "property". Right to property, which used to be a fundamental right earlier, is now a legal right. But the RBI turned them away citing lack of powers, and the government did not entertain them either. The Solicitor General tried to argue that the government notification did not talk about any such window.But the CJI countered it by saying that it should have had one.
The last date for depositing scrapped currency notes of Rs1,000 and Rs500 denominations was 30 December 2016. New Delhi: The Supreme Court on Tuesday suggested that people who had failed to deposit old, demonetized currency notes in their bank accounts because of "genuine and valid reasons" be given another opportunity to do so. "We believe that those who failed to deposit the money due to genuine and valid reasons should be given a window. The deadline for Indians who were abroad during the November-December period was extended to 31 March while non-resident Indians were given till 30 June. In March, the court questioned the Centre over extensions granted to select groups of people for depositing old notes as it had done in the case of Indians who were abroad and non-resident Indians.
read more visit us currency
collected by :John Miller
referring to
SC gives Centre, RBI time to devise plan for depositing demonetised currency
"You had a window, you chose not to exercise it," CJI Khehar said, demanding answers from Solicitor General (SG) Ranjit Kumar. CJI Khehar, in a shift from his earlier hands-off approach to policy measures, said money was like "property". Right to property, which used to be a fundamental right earlier, is now a legal right. But the RBI turned them away citing lack of powers, and the government did not entertain them either. The Solicitor General tried to argue that the government notification did not talk about any such window.But the CJI countered it by saying that it should have had one.
The last date for depositing scrapped currency notes of Rs1,000 and Rs500 denominations was 30 December 2016. New Delhi: The Supreme Court on Tuesday suggested that people who had failed to deposit old, demonetized currency notes in their bank accounts because of "genuine and valid reasons" be given another opportunity to do so. "We believe that those who failed to deposit the money due to genuine and valid reasons should be given a window. The deadline for Indians who were abroad during the November-December period was extended to 31 March while non-resident Indians were given till 30 June. In March, the court questioned the Centre over extensions granted to select groups of people for depositing old notes as it had done in the case of Indians who were abroad and non-resident Indians.
read more visit us currency
collected by :John Miller