Demonetisation case in SC: Likely to allow district cooperative banks to deposit already collected amount, submits AG Mukhul Rohatgi

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New Delhi | Updated: December 15, 2016 6:11:56 PM

With Supreme Court hearing the transfer petition filed by the Center on demonetisation and several other petitions, Attorney General Mukhul Rohatgi, today submitted that the center is likely to allow ditrict cooperative banks to deposit amount of cash already collected.

AG Rohatgi had earlier filed a transfer petition before the Supreme Court seeking a stay on all pending pleas against demonetisation. (PTI)AG Rohatgi had earlier filed a transfer petition before the Supreme Court seeking a stay on all pending pleas against demonetisation. (PTI)

With Supreme Court hearing the transfer petition filed by the Center on demonetisation and several other petitions, Attorney General Mukhul Rohatgi, today submitted that the center is likely to allow district cooperative banks to deposit amount of cash already collected.

Earlier on December 9, while hearing petitions questioning the Modi government’s rationale behind the implementation of the note-ban policy, the apex court enquired on whether the decision of initiating the anti-graft policy was done in absolute secrecy. The Centre had submitted an affidavit last week on the demonetisation move in the Supreme Court, saying it is an attempt to unearth black money stashed over the last seven decades.

 

Attorney General Mukul Rohatgi said that the Centre had filed a reply in the Supreme Court in compliance with the top court’s earlier order on the issue. The Centre in its affidavit told the apex court that demonetisation is a step to reduce ratio of cash transactions, adding the objective is to unearth illegal parallel economy.

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AG Rohatgi had earlier filed a transfer petition before the Supreme Court seeking a stay on all pending pleas against demonetisation.
The apex court had on November 18 refused to put a stay on hearings in various High Courts and lower courts related to the demonetisation of Rs. 500 and Rs. 1,000 currency notes.

Citing the rise in the flow of black money in the country, Prime Minister Narendra Modi, on November 8, had initiated the demonetisation policy, following which there had been a ban on currency notes of the denominations Rs 500 and Rs 1,000

(With inputs from ANI)

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