Economy

Depositing cancelled notes: Why did you go back on your promise, apex court asks Centre

Krishnadas Rajagopal New Delhi | Updated on January 13, 2018 Published on March 06, 2017

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Wants to know why the deadline to make deposits was not extended

The Supreme Court on Monday asked the government to respond on why it went back on its promise of extending the date of deposit of demonetised notes to March 31, 2017, considering the genuine difficulties of citizens.

A Bench comprising Chief Justice of India JS Khehar and Justices DY Chandrachud and SK Kaul gave the government time till Friday to respond to a bunch of petitions filed by companies and individuals that the Specified Bank Notes (Cessation of Liabilities) Ordinance promulgated on December 30, 2016, also penalised those who deposited demonetised money after December 30, 2016.

The petitioners said that the Prime Minister’s speech on November 8, 2016 announcing the demonetisation scheme, and the subsequent RBI notification on the same night, both assured citizens that they would be able to deposit demonetised notes beyond the cut-off date of December 31, 2016, till March 31, 2017, in case they were caught in a genuine predicament.

In its order, the Bench highlighted the petitioners’ main prayer that despite the explicit postulation that the final date of deposit would be extended till March 31, 2017, “no individual was allowed to deposit after December 31, 2016”.

“It is submitted that the petitioner had genuine reasons and yet no attention was paid to his predicament though he brought it to the notice of the authorities.”

Published on March 06, 2017
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