Home / Politics / Policy /  Supreme Court declines to stay demonetization notification

New Delhi: The Supreme Court on Tuesday sought a comprehensive response from the Central government on the scrapping of 500 and 1,000 bank notes while refusing to stay RBI’s demonetization notification.

“We are not involving ourselves on the economic issue but we are concerned with the inconvenience caused to people," a bench comprising chief justice T.S. Thakur and justice D.Y. Chandrachud observed.

The government’s top law officer, attorney general Mukul Rohatgi, undertook that a report on all steps being taken to ameliorate the situation will be filed by Wednesday.

“Collateral damage is inevitable when such measures are taken," Rohatgi told the court.

Separately, Sangam Lal Pandey, an Uttar Pradesh-based lawyer, had moved the Supreme Court seeking quashing of the Reserve Bank of India (RBI) notification scrapping the high-value notes.

Senior advocate and Congress leader Kapil Sibal, arguing against the demonetization policy, said that the government notification is inadequate and arbitrary.

“Under what provision of law can the government cap bank withdrawals. That is legitimate cash economy that is affected," he added.

The case will be heard next on 25 November.

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