Free Press Journal

Cannot allow deposit of scrapped notes: Government to Supreme Court

FOLLOW US:

An Indian vendor displays wallets made from replica prints of the demonetised 500 and 1000 INR currency notes prints for sale at a stall in Mumbai on November 22, 2016. AFP PHOTO / INDRANIL MUKHERJEE

New Delhi: The Centre on Monday filed an affidavit before the Supreme Court, refusing to open a window for accepting the demonetised Rs 500 and Rs 1,000 currency notes, saying any such move will defeat “the very objective of demonitisation and elimination of black money”.

The case is coming up for hearing on Tuesday before a three-judge Bench of Chief Justice Jagdish Singh Khehar and Justice S A Bobde and Justice D Y Chandrachud.

In its last hearing on July 4, the court had said it can not allow a person’s hard-earned money go waste and should be allowed deposit it “if a person can prove it is their money and he/she had real difficulty in depositing by December 31”.


The 63-page government’s affidavit says “the persons in possession of the SBNs (demonetised notes) would have had sufficient time and opportunity to carefully plan the reasons and excuses for not depositing the SBNs within the permitted period — before 30.12.2016.

“Any number of benami transactions and user proxies for the purpose of producing and deposting SBNs would then arise which the departments would have great difficulty in deciding any genuine case from the numerous bogus ones,” it reads.

The Centre said it had taken a conscious decision that no necessity or any justifiable reason exists to revoke its earlier decision on the scrapped notes.