SC refuses to interfere with Centre's order on Demonetisation
02:10PM Fri 16 Dec, 2016
On Friday, the Supreme Court refused to interfere with Centre's order on Demonetisation. Calling the order as a 'matters of fiscal policies,' the court also ordered all high courts to put a stay on any proceedings regarding demonetisation and transfer the cases to the SC. "We are not inclined to grant interim relief and interfere with the government's fiscal policy," the court said.
The court also refused to extend the date for exemption of old Rs. 500 and Rs. 1000 currency notes for certain services.
The five-judge constitution bench that was hearing the case said that the government should try its best to honour its commitment of allowing the public to withdraw Rs. 24000 per person per week.
Referring to the seizures being conducted across the country, yesterday, the court had asked the Centre that how people were able to get huge amounts of money in the form of new currency.In its affidavit filed before the court, the Centre had said that demonetisation is a step to reduce the ratio of cash transactions and will help in curbing the illegal parallel economy running in India. The apex court has referred the matter to a constitution bench by framing nine questions for adjudication.
Attorney General Mukul Rohtagi had requested the court to not pass an interim order to make it possible to use the old notes again.
"We have only 14 days left. The idea behind demonetisation was to root out black money and the government has been able to achieve its target. This country is witnessing a revolution. No other government dared to do so earlier. The government has taken a decision and it's answerable to Parliament," Rohtagi said.
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