Demonetisation case in Supreme Court: No cash is no excuse, argues Kapil Sibal against Centre

By: |
Published: December 15, 2016 8:31:22 PM

As the Supreme Court is set to close for its Winter vacations tomorrow, the demonetisation case came up before the bench of the Chief Justice of India today.

money-lKapil Sibal further said, “Old currency notes should be accepted for essential services like hospital, burial grounds, milk booths and so on. But non-acceptance is leading to untold misery.”

As the Supreme Court is set to close for its Winter vacations tomorrow, the demonetisation case came up before the bench of the Chief Justice of India today. Opposing the Centre’s demonetisation move, Kapil Sibal, Senior Advocate said, “Under the notification dated 08.11.2016, the Government has given the right to withdraw Rs.24,000/- per week and this cannot be denied. Subject to any further amendment, the Government is bound to fulfil this.”

Kapil Sibal further said, “Old currency notes should be accepted for essential services like hospital, burial grounds, milk booths and so on. But non-acceptance is leading to untold misery.”

Former Finance Minister and Senior Advocate P.Chidambaram stated in Supreme Court today, “Going by the present state of affairs and the slow rate at which new currency is being injected into the system, the situation will not improve within the next fourteen days.”

You may also like to watch this

According to former Finance Minister and Senior Advocate, P. Chidambaram, it will take at least six months for the Government to replace all the old currency notes with new currency notes.

Prashant Bhushan, Lawyer, Activist and Politician, pointed out in Supreme Court about the plight of the people as a result of inadequate currency and he further submitted that at least until the Government has succeeded in replacing new currency, the old currency should not be destroyed.

Demonetisation case in Supreme Court: Co-operative banks will be allowed to deposit old currency notes subject to conditions, says Attorney General Mukul Rohatgi

Sanjay Hegde, Senior Advocate, stated in Supreme Court, “RBI must make public on a daily basis how much money is being put in the system.”

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.