Supreme Court to hear govt plea on note switch
Bench of justices Anil R. Dave and A.M. Khanwilkar say centre's plea will be heard by Chief Justice T.S. Thakur on Friday
Premium
New Delhi: The Supreme Court agreed to hear a plea filed by the centre seeking a stay on cases against the scrapping of Rs500 and Rs1,000 bank notes filed in high courts across the country.
“Parallel proceedings will create a lot of unnecessary confusion," the government’s top law officer, attorney general Mukul Rohatgi, told the court.
A bench comprising justices Anil R. Dave and A.M. Khanwilkar said the centre’s plea will be heard by Chief Justice T.S. Thakur on Friday.
On Tuesday, a bench comprising Chief Justice Thakur and D.Y. Chandrachud sought a comprehensive response from the Central government on the scrapping of ₹ 500 and ₹ 1,000 bank notes while refusing to stay the Reserve Bank of India’s demonetization notification.
“Collateral damage is inevitable when such measures are taken," Rohatgi told the court while undertaking to apprise the court of all steps being taken to ameliorate the situation created by the scrapping of the high-value notes, which has led to a run on bank branches and ATMs.
The court had made it clear that while it will not interfere with the government’s economic policy, inconvenience caused to people will be monitored by the court. At least four public interest litigation cases have been filed before the apex court. Senior Advocate and Congress leader Kapil Sibal, arguing for the batch of petitioners, questioned the power under the Reserve Bank of India Act, 1934 to issue such a notification.
So far, the Madhurai bench of the Madras high court has dismissed a plea against demonetization on 10 November and the Bombay high court has refused to take up the issue on its own motion. Two lawyers of the Bombay high court pleaded before the court to take up the case on its own motion, which a bench headed by Justice M.S. Karnik asked to be listed before a regular bench of the court.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
