SC to hear all matters pertaining to demonetisation on Dec.2

The Supreme Court will on December 2 hear all pleas including the transfer petition filed by the Centre on the demonetisation of Rs. 500 and Rs. 1000 currency notes.

Attorney General Mukul Rohatgi on Friday told the apex court bench headed by Chief Justice of India T.S. Thakur that he had placed the affidavit on record in connection with the demonetisation issue.

Senior lawyer Kapil Sibal, who appeared for one of the petitioners, told the bench that people are starving in the streets as there was no cash at all.

"Public are suffering every day, no political leader was suffering due to demonetisation," said another lawyer Manohar Lal Sharma.

Sharma pleaded that the government should not have demonetised the high-value currency notes and said the apex court should pass appropriate order which it deemed fit to deal with the present situation.

The Chief Justice of India remarked demonetisation as a very serious matter.

"What can be done let us see," he said.

Earlier on Thursday, the Centre submitted an affidavit on the demonetisation move in the Supreme Court, saying it is an attempt to unearth black money stashed over the last seven decades.

Rohtagi said that the Centre had filed a reply in the Supreme Court in compliance with the top court's earlier order on the issue.

"We have filed the report starting from the initiation of SIT and all other issues which could be the affect of demonetisation process," Rohtagi told ANI.

The Centre in its affidavit told the apex court that demonetisation is a step to reduce ratio of cash transactions, adding the objective is to unearth illegal parallel economy.

"Earlier, we constituted SIT to curb black money, amended Benami Act. The people might have to face some inconveniences. Re-calibration of ATMs is in full swing. Crores of fake currency notes have became useless. Funding of terror groups has been stopped," said the affidavit.

Attorney General Rohatgi had earlier on Monday filed a transfer petition before the Supreme Court seeking a stay on all pending pleas against demonetisation.

The Supreme Court had on November 18 refused to put a stay on hearings in various High Courts and lower courts related to the demonetisation of Rs. 500 and Rs. 1000 currency notes.