Demonetisation: Supreme Court refuses to extend exemption limit; 5 judge bench to explore constitutionality

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December 16, 2016

NEW DELHI – Hearing petitions on demonetization, the Supreme Court had, today, taken a strong stand and refused to extend the use of the scrapped currency notes in government utility centers like hospitals, railway tickets and others.

December 16, 2016

NEW DELHI – Hearing petitions on demonetization, the Supreme Court had, today, taken a strong stand and refused to extend the use of the scrapped currency notes in government utility centers like hospitals, railway tickets and others.

The apex court had also transferred the demonetization case to a five-judge constitution bench and had put a stay on the proceedings on petitions against the newly implemented anti-graft policy in all high courts.

Directing that all petitions against the demonetization policy implementation will be heard in the Supreme Court only, the apex court had also left it to the central government to decide whether it will extend the last date for depositing banned currency notes after December 30.

While the Supreme Court transfers the demonetization case to a special bench of judges, it referred petitions challenging the implementation of the note ban policy by framing nine questions for adjudication.

While the apex court had directed the central government to fulfill its commitment of Rs 24,000 total withdrawal limit per week to whatever extent it can, the SC had not granted any relief to the district cooperative banks.


Courtesy: Financial Express

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