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SC adjourns demonetisation matter till Dec 5

ANI 

The Supreme Court on Friday has adjourned the demonetisation matter till December 5.

The apex court has adhered to this decision because of the problems faced by cooperative banks.

Chief Justice of India T.S. Thakur has asked the government to see if something can be done.

"People are suffering, it is a serious problem." he said.

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

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

Attorney General Mukul Rohatgi 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.

Attorney General Rohatgi had earlier 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, December 02 2016. 14:44 IST
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