Good News For Who Holding Old 500, 1000 Notes
The Centre on Friday told the Supreme Court that no criminal action would be taken against those petitioners who were holding old currency notes of Rs 500 and Rs 1000.
The Supreme Court was hearing a petition filed seeking a direction from the Supreme Court to Centre for those persons who couldn't deposit old currency notes.
The Supreme Court disposed of 14 petitions seeking its nod to deposit demonetised notes and said that a five-judge Constitution Bench would deal with this aspect besides deciding the validity of Centre's decision to demonetise currency notes.A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud said the Constitution Bench would also deal with the individual plea of those who could not deposit their currency notes during the window period provided by the Reserve Bank of India (RBI).
The bench asked the petitioners to file two to three pages long interlocutory applications in the pending petitions which would be dealt by the constitution bench later.
Some petitioners claim that they have not challenged the constitutional validity of either certain provisions of the RBI Act and Centre's November 8, 2016, notification, rather they want to deposit their demonetised currency notes.
"Our hard-earned money has been confiscated without due process of law and without granting fair opportunity," lawyer Pranav Sachdeva, appearing for one of the petitioners said adding the Constitution bench be constituted as expeditiously as possible.The apex court had on December 16, last year referred to a Constitution Bench, the issue of the validity of government's decision to demonetise currency notes of Rs 1,000 and Rs 500.

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