TMI Blog2016 (12) TMI 1015X X X X Extracts X X X X X X X X Extracts X X X X ..... that:- Whether the exemption period should be extended or not must be best left to the judgment of the Government of the day with a hope that the Government will be responsive and sensitive to the problems encountered by the common man. Accordingly, we decline to issue any interim direction to the Government in the matter of extending the period of exemption and leave it open to the Government to take appropriate decision in that behalf, as may be advised. Denial of right to withdraw the prescribed amount of ₹ 24,000/- per week per account holder, in spite of Notification issued by the Reserve Bank of India permitting such withdrawal - Held that:- Considering the stand taken by the learned Attorney General, we may commend to the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... W.P.(C) Nos.908/2016,913/2016,916/2016, WP D.No.37946/2016, W.P.(C) No.929/2016, W.P. (C)No.930/2016, 943/2016,W.P.(Crl.) No.162/2016, W.P.(C) No.951/2016,952/2016,953/2016,954/2016,958/2016,957/2016, T.P.(C)No.2018-2022/2016,W.P.(C)No.971/2016,972/2016, SLP No.35356/2016, T.P.(C)No.2030-2038/2016, W.P.(C)No.978/2016, W.P.(C)D.No.40114/2016,W.P.(C) No.944/2016, SLP No.35805/2016,W.P.(C)No.996/2016,997/2016, T.P.(C)No.1958-1967/2016 T.P.(C)No.1982-1996/2016, W.P.(C) Nos. 1006/2016, 1008/2016, 1009/2016, 1010/2016, 1011/2016 and SLP(C) No. 36757/2016 ORDER Writ Petitions are admitted. Issue notice on the Writ Petitions, special leave petitions and other applications. The respondents may file reply affidavit within six weeks ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nst by excluding them from accepting deposits and exchanging demonetized notes. Keeping in view the general public importance and the far reaching implications which the answers to the questions may have, we consider it proper to direct that the matters be placed before the larger Bench of five Judges for an authoritative pronouncement. The Registry shall accordingly place the papers before Hon ble the Chief Justice for constituting an appropriate Bench. We may now advert to the issues which are of immediate concern. The first issue is about the restriction placed on the District Cooperative Banks to accept deposits or exchange of demonetized currency of ₹ 500/- and ₹ 1000/-. Two broad aspects have been presented before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng to the second aspect, of District Cooperative Banks being precluded from utilizing the demonetized notes deposited with them between 11th to 14th November 2016 (when it was so permitted by the Reserve bank of India), the learned Attorney General has invited our attention to the written instructions received by him from the Under Secretary to the Government of India dated 14th December 2016. The relevant extract of the said letter reads thus: In this regard, it is to inform that as regards the deposits of Specified Bank Notes (SBNs) collected by DCCBs, the RBI has recommended that the SBNs collected by the DCCBs between 10th and 14th November 2016 may be exchanged with their linked currency chests after a 100% audit of the veracity o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urrency notes of ₹ 500/- and ₹ 1000/- at specified counters as per the relevant Notifications issued in that behalf by the Reserve Bank of India. It was contended that the exemption period provided in the concerned notification is expiring. Hence, it will not be possible to deposit the demonetized notes at specified counters thereafter, even in case of emergency situation like hospitalization, travel by Railway or Air etc. In our opinion, whether the exemption period should be extended or not must be best left to the judgment of the Government of the day with a hope that the Government will be responsive and sensitive to the problems encountered by the common man. Accordingly, we decline to issue any interim direction to the Gov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that for the nature of decision taken by the Government - to unearth the black money or unaccounted money and to dry up the terror fund and defeat the attempt of circulation of large scale counterfeit currency, maintaining complete secrecy of such a decision was imperative. For that reason, new currency notes could not be printed well in advance. He submits that the old demonetized notes will be replaced by new legal tender notes in the form of ₹ 500/- and ₹ 2000/- progressively in right earnest. Considering the stand taken by the learned Attorney General, we may commend to the Authorities to fulfill their commitment made in terms of the stated Notification permitting withdrawal of ₹ 24,000/- per account holder of the B ..... X X X X Extracts X X X X X X X X Extracts X X X X
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