Won't accept old notes, center tells Supreme Court

Prime Minister Narendra Modi in 2016 had announced the demonetisation of 500 and 1000 Rs notes

Prime Minister Narendra Modi in 2016 had announced the demonetisation of 500 and 1000 Rs notes

Allowing a new opportunity to deposit the banned notes would result in "any number of benami transactions" and make it hard for departments to distinguish "genuine cases from bogus ones", the centre warned.

"The persons in possession of the Specified Bank Notes (SBNs) would have had sufficient time and opportunity to carefully plan the reasons and excuses for not depositing them within the permitted period, ie, before December 30, 2016", the Centre told the court.

It was replying to the Supreme Court's appeal to open a window for genuine people, like the terminally ill and invalids, to name a few, who were unable to deposit their demonetised ₹1,000 and ₹500 notes between November 9 and December 30 previous year.

Following the announcement of demonetising currency notes worth Rs 500 and 1,000 in November previous year, the government had instructed people to deposit their old currency notes with the RBI till December 30, 2016.

The government said that it had come across a huge amount of malpractices in the post-demonetisation period.

The central government told the Supreme Court today that no exceptions will be allowed in depositing old currency notes of Rs 500 and Rs 1000 that were demonetized in November previous year.

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The specified category included those travelling overseas and NRIs etc.

The CJI had suggested that the government should at least have one designated authority which would give every such case of those seeking to return old notes a fresh look. The bench had directed the government to file an affidavit in the case within two weeks.

According to reports, the Chief Justice of India JS Khehar was concerned about the honest citizens and said, "If these genuine people are not given a chance, then it is a serious issue". "It was a mindless move which broke the backbone of farmers and labourers in the nation", Yechury had said last month, demanding the government to release the figures of black money recovered through the exercise. Besides, interim transactions were also allowed through old notes as compared to the last time.

The Centre on Monday told the Supreme Court that it will not grant citizens more time to deposit or exchange old currency notes, saying it will defeat the whole goal of demonetisation, The Times of India reported.

It had asked the government to consider creating a window for people with such legitimate reasons to deposit scrapped notes.

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