Supreme Court refuses to stay Centre’s demonetization notification

New Delhi: The Supreme Court of India today refused to stay Centre’s notification demonetizing Rs 500 and Rs 1000 currency notes. The SC has however agreed to examin legal validity of notification, hearing for which will take place on November 25.

SC however expressed concern at the inconvenience faced by people and said not everyone who has Rs 500 and Rs 1000 notes can be painted as a hoarder or a person with black money.

SC has without notice sought Centre’s affidavit on the issue on Public Interest Litigation(PILs) filed by various petitioners challenging government’s demonetization decision.

SC asked Centre to file an affidavit giving details of measures it will adopt to reduce queues before banks.

What more steps are you exploring and considering in relation to inconvenience caused to people? The Supreme Court asked Centre adding that why don’t the government raise withdrawal limit?

The court agreed with AG’s contention that there will be “some collateral damage in a surgical strike against blackmoney.”

DeshGujarat