United Arab Emirates:
Supreme Court Of India Issued Notice For Allowing Deposits Of Demonetised Currency
03 September 2019
STA Law Firm
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It is more than two and a half years that the Government of
India (GoI) issued the ban of INR 1000
and INR 500 currency notes. Pursuant to that a fresh application in
the form of a petition has been filed before the Supreme Court
(SC) of India in order to seek direction
for the Reserve Bank of India (RBI). This
petition was filed with the intention of requesting the RBI to
accept the demonetised amounts which were a part of the petitioners
textile business.
The SC bench comprising of elite judges went ahead and issued
the said notice to the RBI along with other similar petitions which
were already in pendency before the SC. It was alleged by the
petitioner that he suffered huge losses as well as under Section
138 of the Negotiable Instruments Act. He had requested SC to pass
an order for directing RBI to remit the amount in any of his bank
accounts.
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