A Public Interest Litigation (PIL) was on Thursday filed in High Court of Judicature at Hyderabad challenging union government's decision of scrapping Rs.500 and Rs.1000 currency notes.
The petition, filed by an advocate Pusala Venkata Krishnaiah, alleged that sufficient time frame had not been given for the transition and it would create unprecedented chaos and panic among people.
The PIL filed challenges the provision that is sub-section 2 of section 26 of Reserve Bank of India 1934 Act claiming that there is no guidelines how to exercise the power available under the section.
The petitioner said that time for such a huge change should have given by the government.
The High Court will tomorrow hear the PIL.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app