Can’t Bar People With Genuine Reasons From Depositing Old Notes: Supreme Court
By Team Legistify / 2017-07-12

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The Supreme Court on Tuesday asked the government why people who could not exchange demonetised currency notes within the December 30 deadline due to genuine reasons should not be allowed to still deposit them.

The top court has sought responses from the government and the Reserve Bank of India within 15 days.

“If there is a genuine person, he should have the opportunity; if his failing (to deposit old notes) was genuine, his money cannot be taken away,” the two judge bench comprising Chief Justice of India Justice JS Khehar and Justice DY Chandrachud said.

After the Prime Minister invalidated old Rs 500 and Rs 1,000 bills on November 8 last year, the government allowed people to either exchange or deposit the withdrawn notes till December 30. Those abroad during the period were given time till March 30 and non-resident Indians could deposit their old notes till June 30 at select RBI branches.

A batch of petitioners moved the apex court claiming that they could not deposit banned notes within the deadline due to “genuine” reasons and now face the risk of prosecution.

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